Moody's assigns Baa1 to Nucor notes

Moody's Investors Service said it assigned a Baa1 rating to Nucor Corp.’s planned senior unsecured notes. The company plans to offer up to $1 billion of senior notes across three- and five-year maturities.

The agency affirmed Nucor’s Baa1 senior unsecured rating on May 20, 2020.

Nucor plans to use the proceeds along with other short-term borrowings and cash on hand to fund the $3 billion acquisition of CHI Overhead Doors, LLC.

The outlook is stable.

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