S&P revises Ryerson view stable

S&P said it changed Ryerson Holding Corp.’s outlook to stable from negative and affirmed all its ratings, including the company’s notes rated B.

The agency noted demand for steel rose sharply in the second half of last year.

“We expect Ryerson's order activity to recover in 2021 and 2022 as steel demand from key markets remains resilient. A gradual recovery in volumes over the next 12-18 months and current high steel prices should result in Ryerson generating $200 million-$250 million of adjusted EBITDA in 2021 and 2022 (compared to $140 million in 2020),” S&P said in a press release.

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