Russel Metals Inc.: Rating Report
On February 28, 2023, DBRS Limited (DBRS Morningstar) confirmed the Issuer Rating of Russel Metals Inc. (the Company) at BBB (low) with a Stable trend. The rating confirmation reflects solid 2022 operating results that were essentially in line with DBRS Morningstar’s expectation. The Stable trend reflects DBRS Morningstar’s expectation that the Company’s financial profile is forecast to remain stable and continue to support its investment-grade rating despite a projected normalizing in earnings and cash flows in 2023 and 2024, reflecting a softening market in comparison to 2022.
DBRS Morningstar is a global credit ratings business with 700 employees in eight offices globally. DBRS and Morningstar Credit Ratings are committed to empowering investor success, serving the market through leading-edge technology and raising the bar for the industry.
Together, we are the world’s fourth largest credit ratings agency and a market leader in Canada, the U.S. and Europe in multiple asset classes. We rate more than 2,600 issuers and 54,000 securities worldwide and are driven to bring more clarity, diversity and responsiveness to the ratings process. Our approach and size provide the agility to respond to customers’ needs, while being large enough to provide the necessary expertise and resources. For more details visit us at dbrs.com.
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