S&P puts Jorgensen on positive watch

Standard & Poor's said it placed its B+ corporate credit and B senior secured debt rating on Jorgensen (Earle M.) Co. on CreditWatch with positive implications.

The CreditWatch placement reflects improvement in the company's financial performance, expectation of continued good end markets and productivity enhancements, S&P said.

S&P also said the company is expanding its market presence through additional satellite facilities and the expansion of current facilities.

S&P said ratings could be raised one notch upon completion of its review.

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