Research Update: Commercial Metals Co. Corporate Credit Rating Lowered To 'BB+' From 'BBB-'; Outlook Stable Nov 11
- Language: English
- Published: November 2011
We expect 2011 EBITDA for steel manufacturer Commercial Metals Co. will be materially lower than our previous estimations because nonresidential construction, Commercials Metals' largest end market, has not improved as expected. We are placing our ratings on Commercial Metals, including the 'BBB-' corporate credit rating, on CreditWatch with negative implications. In resolving the CreditWatch listing, we will meet with management to discuss its near- to intermediate-term operating and financial prospects, including end-market demand trends. NEW YORK (Standard & Poor's) Aug. 4, 2011--Standard & Poor's Ratings Services said today that placed its ratings, including its 'BBB-' corporate credit rating, on Irving, Texas-based Commercial Metals Co. on CreditWatch with negative implications. The CreditWatch listing reflects Standard & Poor's assessment that the company's...
Companies mentioned in this report are: Commercial Metals Co.
Action: On CreditWatch:Negative
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Research type: News
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