Moody's rates AK Steel notes B2

Moody's Investors Service said it assigned a B2 rating to the senior unsecured notes due 2022 issued by AK Steel Corp.

At the same time, Moody's affirmed the B1 corporate family rating and probability of default rating, the B2 rating on the existing senior unsecured notes and tax exempt financings and the provisional B2 shelf rating for senior unsecured debt.

Proceeds from the new issue will be used to repay debt under the company's asset-backed revolving credit facility.

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