S&P rates Stelco notes B-

S&P said it assigned a B- rating with a recovery rating of 3 to Stelco Inc.’s planned $300 million of senior notes due 2024.

Proceeds will be used for funding strategic capital investments and potential acquisitions.

The agency also assigned the company a B- rating.

“The rating primarily reflects our view of the company’s limited operating breadth, high prospective leverage, and the sensitivity of its credit measures to historically volatile steel prices,” S&P said in a press release.

The outlook is stable.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.