Question-and-Answer Session
Thank you, Mr. Wainscott. We will now begin the question-and-answer portion of our conference call. [Operator Instructions]. One moment please for the first question. Our first question comes from Brett Levy of Jefferies & Company.
Brett Levy - Jefferies & Company
It's an awesome quarter. Congrats again, Jim and Al. First off, and I think I have asked this before, have you got the ratings guys looking at potentially upgrading you, I mean 19 tonnes interest covered going to 25, starting to sound pretty investment grade?
Albert E. Ferrara Jr. - Vice President, Finance and Chief Financial Officer
We have had an ongoing dialog with the rating agencies. We continue the discourse that we've had. We've indicated our displeasure, if you will, with the level of ratings but we will continue to have discussions with them, and hopefully we'll get some better news.
James L. Wainscott - Chairman, President, and Chief Executive Officer
In fact I hope Brett, that Al makes a trip up there to New York later this week.
Brett Levy - Jefferies & Company
Okay. The next one is, as you guys look a little bit further out, I mean, can you tell me a little bit about the Ohio project, I think it's MMKs, whether that's making... I know they have like air permits or talk a little bit about the traction of that one, talk about what you are hearing about ThyssenKrupp's plant down in Alabama and sort of the competitive threat that that might mean to you and what the time frame you're hearing there? Just sort of talk about some of the longer-term competitive threats?
James L. Wainscott - Chairman, President, and Chief Executive Officer
Well, let us just [inaudible] the following. First off, with respect to MMK. We only know what we read... read rather, it's in the Rumor Mill. As far as TK is concerned, again they are building, they are coming obviously to America. I really continue to question the assumptions that would lead anyone to think there is a shortage of automotives field in this company, or country rather. Having said that, I've got really every confidence that we'll compete with any steel maker in the world given the level of playing field on all fronts, including steel making input cost trade laws and other factors. We have overcome every challenges you've seen that's been placed in front of us and we will continue to do that. We will do so by continuing to meet the needs of our customers better than anyone else. If you are the leading guy out there as we are in terms of quality delivering service, what's the incentive to jump ship. We really don't see it, we really don't see the need for the continued expansion. So... and that's the story, we think it will be very difficult to earn the cost of capital but sometimes it's not necessarily economics that drive these decisions. So we'll see as far as the one that's still in the Rumor stage, the other is going to be here probably in another two to three years.
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