Fitch views Steel Dynamics positively

Fitch Ratings said it revised Steel Dynamics, Inc.'s outlook to positive from and stable and affirmed the BBB ratings on the company, its senior unsecured revolver and senior unsecured notes.

“The positive outlook reflects Fitch's expectation EBITDA leverage will be sustained at or below 1.5x, in addition to the possibility that EBITDA margins could be sustained at or above 16%. Fitch believes Steel Dynamics' significant size and diversified product mix, in addition to its flexible, low-cost structure, vertically integrated business model focused on pull-through volumes, industry-leading domestic capacity utilization rates, and its strategic focus on expanding its value-added product mix, collectively support the company's high EBITDA margins,” the agency said in a press release.

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