S&P Downgrades CSN to 'B-' on Weak Mining Performance and Debt

Key Facts

1S&P Global Ratings downgraded CSN to 'B-' citing weaker mining performance and increased leverage.

S&P Global Ratings downgraded the credit rating of Companhia Siderúrgica Nacional (CSN) to 'B-'. Benzinga reported that the downgrade was driven by weaker performance in the company's mining division and an increase in financial leverage.

SID closed at $1.16 on October 20, 2026, after trading between a session high of $1.16 and a low of $1.13. The credit downgrade reflects the financial pressure on the industrial firm as its mining operations deteriorate.