S&P puts Ryerson on watch

Standard & Poor's said it placed the B+ corporate credit rating on Ryerson Inc. on CreditWatch with negative implications.

The agency said the watch reflects lower-than-anticipated performance resulting in credit metrics below expectations, with an adjusted debt-to-EBITDA ratio at about 10.3 times at June 30.

Weak end markets, particularly in the company's stainless steel and aluminum products segment, are likely to continue during the next several quarters because of weaker demand in the consumer and housing sectors, the agency said.

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