Moody's Ratings assigns Baa2 ratings to Steel Dynamics proposed senior notes
Moody's Ratings (Moody's) assigned a Baa2 rating to Steel Dynamics, Inc.'s ("Steel Dynamics") proposed senior unsecured notes. The company plans to issue two tranches of senior notes with 10-year and 30-year maturities. It plans to use the proceeds to fund the redemption of $400 million of 2.4% note...Steel Dynamics is a steel producer and metal recycler. The company manufactures and sells steel products, processes and sells recycled ferrous and nonferrous metals, and fabricates and sells steel joists and deck products. The company's segments are: Steel, which produces steel from ferrous scrap and scrap substitutes, utilizing casting, automated rolling mills and several downstream steel coating and bar processing lines, and Iron Dynamics; metals recycling, which involves the purchase, processing, and resale of ferrous and nonferrous scrap metals into reusable forms and grades; and steel fabrication, which produces steel building components, including steel joists, girders, trusses, and steel deck.
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