Tube City IMS Corp. Ratings Raised To 'BB-' From 'B+', Removed From CreditWatch On Improved Performance; Outlook Stable Nov 11

Standard & Poors, November 2011

Abstract
U.S.-based Tube City IMS Corp. has experienced better operating performance in 2011 as a result of improving steel industry operating fundamentals and higher capacity utilization rates; the company's IPO has also reduced its leverage and improved its liquidity. We are raising our corporate credit rating on Tube City to 'BB-' from 'B+' and removing all ratings from CreditWatch, where they were placed with positive implications on Sept. 9 2011. We are also raising our issue-level ratings on the company. The rating outlook is stable reflecting our expectation that Tube City will sustain its financial profile and liquidity position at a level we consider being commensurate with the rating. NEW YORK (Standard & Poor's) Nov. 22, 2011--Standard & Poor's Ratings Services...

Companies mentioned in this report are:
- Tube City IMS Corp.

Action: Outlook: Stable
Action: Removed From CreditWatch
Action: Upgraded

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
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

- Tube City IMS Corp.

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