Fitch assigns A2(arg) rating to Rogiro Aceros short-term debt

Ratings agency Fitch assigned an A2(arg) rating to Argentine steel processor Rogiro Aceros' yet to be issued short-term debt for a total of 10mn pesos (US$2.3mn), the former said in a report. The rating reflects the company's good credit profile as a result of a conservative leverage and relatively stable operating margins, Fitch said. The rating also considers Rogiro's position as an intermediate company processing and selling long steel products, the rating agency added. The company is exposed to volatility of steel prices and has to acquire 85% of its raw materials from Acindar, Argentina's largest long steel producer, Fitch said. To read the full report, in Spanish, go to this link