Moody's assigns a Baa1 senior unsecured rating to Nucor's exchange notes
Rating Action: Moody's assigns a Baa1 senior unsecured rating to Nucor's exchange notes. Global Credit Research- 18 Nov 2020. New York, November 18, 2020-- Moody's Investors Service, assigned a Baa1 senior unsecured rating to Nucor Corporation's exchange notes due in 2055. The notes, which will have an initial issuance limit of $650 million, will be exchanged for amounts selected across the notes maturing in 2037, 2043 and 2048. All other ratings remain unchanged.Nucor manufactures steel and steel products. The company's operations include international trading and sales companies that buy and sell steel and steel products. The company's segments are: steel mills, which produces sheet steel, plate steel, structural steel, and bar steel; steel products, which produces hollow structural section steel tubing, electrical conduit, steel joists and joist girders, steel deck, cold finished steel, steel fasteners, metal building systems, and wire and wire mesh; and raw materials, which produces direct reduced iron (DRI), brokers ferrous and nonferrous metals, pig iron, hot briquetted iron and DRI, supplies ferro-alloys, and processes ferrous and nonferrous scrap metal.
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