Moody's bumps up Steel Dynamics

Moody's Investors Service said it upgraded Steel Dynamics, Inc.'s senior unsecured rating to Baa2 from Baa3.

"The upgrade of Steel Dynamics' rating reflects our expectations for sustained stronger cash flows and credit metrics through the cycle which provides the company with greater financial flexibility and enables it to fund additional organic growth investments without requiring debt funding," said Michael Corelli, a Moody's senior vice president and lead analyst for Steel Dynamics, Inc.

The outlook remains stable.

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