Fitch Ratings: Confirms China Baowu Group and Baoshan Iron & Steel Co., Ltd. ("Baosteel", stock code 600019.SH) "A" Long-Term Issuer Rating Outlook as "Stable"

On April 15th, Fitch Ratings confirmed the long-term foreign currency and local currency issuer default ratings of China Baowu Steel Group Corporation Limited ("China Baowu Group"), a leading steel manufacturer in China, as "A" and also confirmed the long-term issuer default rating of Baoshan Iron & Steel Co., Ltd. (referred to as "Baosteel" 600019.SH), a subsidiary of China Baowu Group holding approximately 61% of the shares, as "A". The outlook for both companies is stable.