Moodys Investors Service - Russel Metals Inc. (RUS.) Russel Metals, Inc.: Update following the outlook change

Report

Moody's Investors Service

EUR 222.66 For Business Accounts Only

Russel Metals, Inc.: Update following the outlook change

CORPORATES CREDIT OPINION 8 September 2017 Update RATINGS Russel Metals, Inc. Domicile Ontario, Canada Long Term Rating Ba3 Type LT Corporate Family Ratings - Fgn Curr Outlook Positive Please see theÂ ratings section Â at the end of this report for more information. The ratings and outlook shown reflect information as of the publication date. Contacts Brian Oak 212-553-2946

08/09/2017 7 EN

Underlying

Russel Metals Inc.

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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CA7819036046 Toronto Stock Exchange Canada

Provider

Moody's Investors Service

Moody's Investors Service is a leading provider of credit ratings, research, and risk analysis. Moody's commitment and expertise contributes to transparent and integrated financial markets, protecting the integrity of credit. Our ratings and analysis track debt covering more than:

130 countries
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76,000 structured finance obligations

Credit ratings and research help investors analyze the credit risks associated with fixed-income securities. Such independent credit ratings and research also contribute to efficiencies in fixed-income markets and other obligations, such as insurance policies and derivative transactions, by providing credible and independent assessments of credit risk.

Moody’s default studies validate our predictive ratings. Our published research and investor briefings draw thousands of attendees each year and keep investors current with the rationale underlying our credit opinions.

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