Moody's Says Reliance Steel's (RS) New Credit Agreement is Positive Development
Tweet
Share
E-mail
Get Alerts RS Hot Sheet
Price: $386.94 -0.09%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 1.9%
EPS Growth %: +85.4%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 1.9%
EPS Growth %: +85.4%
Join SI Premium – FREE
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 StreetInsider.com Premium Free!
You May Also Be Interested In
- Real Estate Split Corp. Class A and Preferred Distributions
- AppFolio (APPF) PT Raised to $240 at DA Davidson on Strong Growth Profile
- Constellation Brands (STZ) PT Lowered to $180 at Bernstein SocGen Group
Create E-mail Alert Related Categories
Credit RatingsRelated Entities
Moody's Investors ServiceSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
