Moody's Says Reliance Steel's (RS) New Credit Agreement is Positive Development

October 3, 2016 3:00 PM EDT

Get access to the best calls on Wall Street with's Ratings Insider Elite. Get your Free Trial here.

Moody's Investors Service said Reliance Steel & Aluminum Co (NYSE: RS)(Baa3 stable) has entered into a new credit agreement, extending the maturity of its revolver and establishing a new upsized term loan to provide a portion of the funds needed to repay its $350 million senior secured notes due November 2016. These actions are credit positive for Reliance, but will have no impact on its ratings.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Credit Ratings

Related Entities

Moody's Investors Service

Add Your Comment