...+ Chile-based steel and iron ore producer CAP should continue benefiting from resilient pellet premiums, lower costs, and investments, which would help cushion the blow from lower iron ore prices. + We are affirming our '##+' ratings on CAP and removing them from CreditWatch with negative implications, where we placed them on April 13, 2015. + The stable outlook reflects our expectations that the company's credit metrics will be in line with current ratings in the next two years. SAO PAULO (Standard & Poor's) May 7, 2015--Standard & Poor's Ratings Services affirmed its '##+' ratings on CAP S.A. At the same time, we removed the ratings from CreditWatch negative, where we placed them on April 13, 2015, following our iron-ore price deck revision. The outlook is stable. The rating actions reflect our expectation that the company's credit metrics will gradually improve. This stems from CAP's high-quality iron ore products that were less sensitive to price drops, which in turn resulted from a...
