S&P boosts JMC Steel rating as firm seeks credit increase

Feb 16, 2012 | 11:57 AM | Michael Cowden

Tags  JMC Steel Group, S&P, Lakeside Steel, credit, ratings, steel tube, steel pipe, OCTG Michael Cowden

TORONTO — JMC Steel Group Inc. hopes to get a $250-million boost to its existing credit facilities, perhaps as part of its bid to acquire Lakeside Steel Inc., according to Standard & Poor’s.

Chicago-based JMC wants to add $100 million to its $400-million senior secured term loan and $150 million to its $725 million in senior unsecured notes, the ratings agency said.....

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