LONDON, Oct 25 ??“ Mittal Steel??™s purchase of Ukraine??™s largest steel mill was certainly a boon for Ukraine??™s government, but some industry analysts have questioned whether or not Mittal can afford it and whether the price paid was too high, given that it was for a company that does not publish financial records.

One day after the nearly $4.8 bln tender, Standard & Poor??™s Rating Services became the first in the rating crowd to join this skeptical camp.