Moody's upgrades Russel Metals' CFR to Ba2 and assigns a Ba3 rating to proposed senior unsecured notes; outlook stable
Moody's Investors Service ("Moody's") upgraded Russel Metals, Inc.'s (Russel Metals) corporate family rating to Ba2 from Ba3, its probability of default rating to Ba2-PD from Ba3-PD and its senior unsecured note rating to Ba3 from B1. At the same time, Moody's assigned a Ba3 rating to ...Russel Metals is a metals distribution company operating in various locations within North America. Co. primarily distributes steel and other metal products in three principal business segments: metals service centers, energy products, and steel distribution. Co.'s network of metals service centers carry a line of metal products in a range of sizes, shapes and specifications. Co.'s energy products operations carry a product line focused on the needs of its energy industry customers. Co.'s steel distributors act as master distributors, selling steel to other metals service centers and equipment manufacturers.
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