Essar Steel Algoma to get $300M from parent
Jul 16, 2014 | 03:14 PM
| Michael Cowden
CHICAGO Essar Steel Algoma Inc. is slated to receive a $300-million cash infusion from its parent company to pay down debt and strengthen its balance sheet.
The transaction, if executed, should stave off what Standard & Poors Ratings Services warned last month could be a "significant refinancing" or "general default" by an important supplier to markets in Canada and the U.S. Midwest (amm.com, June 27).....
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