S&P affirms Metals USA

Standard & Poor's said it affirmed its ratings on Metals USA Holdings Corp. and on its wholly owned subsidiary, Metals USA Inc., including the B- corporate credit rating.

The outlook is stable.

All ratings are removed from Creditwatch, where they were placed with positive implications, on May 19, following the company's announcement of a planned initial public offering, the proceeds of which were to be used to reduce debt balances, S&P said.

According to the agency, the ratings affirmation and Creditwatch removal reflect its assessment that the company's equity offering seems less likely in the near term because of the challenging economic and capital markets conditions, a trend it expects will continue during this period.

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