Moody's upgrades Steel Dynamics' senior unsecured rating to Baa2; outlook stable
Moody's Investors Service ("Moody's") upgraded Steel Dynamics, Inc.'s ("Steel Dynamics") senior unsecured rating to Baa2 from Baa3. The ratings outlook remains stable. "The upgrade of Steel Dynamics' rating reflects our expectations for sustained stronger cash flows and credit metrics through the ...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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