A.M. Castle's credit rating outlook cut

Aug 19, 2014 | 04:07 PM | Nat Rudarakanchana

Tags  A.M. Castle, S&P, Standard & Poor’s Ratings Services, credit rating, Amanda Buckland, Nat Rudarakanchana

NEW YORK — A.M. Castle & Co.’s credit rating outlook has been lowered to negative from stable by Standard & Poor’s Ratings Services (S&P), which cited weak operating results and potential refinancing risk.

At the same time, S&P affirmed its ‘B-’ corporate credit rating and ‘B-’ issue-level ratings for the company.

A.M. Castle’s operating results in the first half of the year have lagged behind industry peers due to "operational miscues" and interruptions in the Oak Brook, Ill.-based company’s restructuring, S&P credit analyst Amanda Buckland said in a statement Aug. 18.....

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