Moody's upgrades Global Brass and Copper's CFR to Ba3 and liquidity rating to SGL-1; and assigns B1 to proposed senior secured term loan
Moody's Investors Service ("Moody's") upgraded Global Brass and Copper, Inc.'s ("GBC") Corporate Family Rating to Ba3 from B1 and its Probability of Default Rating to Ba3-PD from B1-PD, since we expect continuing improvement in operating performance and resulting key debt cre...Global Brass and Copper Holdings is a converter, fabricator, processor and distributor of non-ferrous products, including a range of sheet, strip, foil, rod, tube and fabricated metal component products. While it primarily processes copper and copper alloys, the company also rerolls and forms certain other metals such as stainless steel, carbon steel and aluminum. Using processed scrap, virgin metals and other refined metals, the company engages in metal melting and casting, rolling, drawing, extruding, welding and stamping to fabricate finished and semi-finished alloy products. The company operates through three reportable operating segments: Olin Brass, Chase Brass and A.J. Oster.
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