S&P rates Nucor notes A

Standard & Poor's said it assigned an A rating to Nucor Corp.'s proposed $500 million senior unsecured notes due 2022, to be issued under the company's shelf registration for well-known seasoned issuers filed in November 2007. The agency also said it affirmed Nucor's A corporate credit rating and A-1 short-term rating.

The outlook is stable.

The rating reflects the company's leading market position in the mini-mill segment of the U.S. steel industry, S&P said.

The company benefits from its nonunion status, the diversity of its product mix and operating facilities, its ability to generate good cash flow during distressed periods, flexible operations and strong liquidity, the agency said.

The ratings also consider an expectation that steel industry conditions, particularly in the commercial construction sector, will remain relatively weak during the next year or so, S&P said.

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