[MLT] Research Update: Commercial Metals Co. 'BBB-' Rating On Watch Negative On Lowered EBITDA Expectations And Still-Slow Construction Demand Aug 11
- Language: English
- Published: August 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
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
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Commercial Metals Co.