Market improvement provides rating uplift for Metals USA

摘要

A “considerable improvement” in Metals USA's operating performance, plus a better outlook for end markets, has earned the Florida-headquartered service centre group an upgrade from Moody's. The change positively reflects the company's geographic, customer and end-market diversification; its countercyclical working capital needs, common among metal distributors; and improved fundamentals in its metal-consuming end markets, such as fabrication, manufacturing, automotive and energy industries, the agency said.