Moody’s changes Zekelman to positive

Moody's Investors Service said it changed Zekelman Industries, Inc.'s outlook to positive from stable and affirmed its B2 corporate family rating, B2-PD probability of default rating, B2 senior secured term loan rating and Caa1 senior secured notes rating.

Moody’s said the outlook revision reflects the recent improvement in the company's operating performance and credit metrics and the expectation they will improve further in the near-term.

The revision also reflects the improved competitive position of the company after the recent consolidation in the tubular products sector.

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