Opposite credit impacts seen from mill deal
Jul 22, 2014 | 02:42 PM
| Michael Cowden
CHICAGO Steel Dynamics Inc.s (SDIs) credit rating could be hurt by its $1.6-billion acquisition of the OAO Severstals Columbus, Miss., mini-mill, although the Russian steelmakers sale of its North American assets for $2.3 billion should bolster its own rating, one credit ratings agency said.
Fort Wayne, Ind.-based SDI will pay for the facility with a mix of debt and cash, Moodys Investors Service Inc. said, noting that the company had $343 million in cash on hand as of March 31.....
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