New York, August 01, 2014 -- Ryerson Holding Corporation, parent company of Ryerson Inc. (Caa1 Stable), recently amended its S-1 registration statement with the US Securities and Exchange Commission indicating its intention to offer 11 million shares of common stock in an initial public offering (IPO). The proceeds from the IPO will be used to terminate the management agreement with Platinum Equity, retire $105 million principal amount of the 11.25% senior unsecured notes due 2018 through the equity claw back provision and to modestly pay down ABL facility borrowings. These actions are a credit positive for Ryerson, but will not impact its credit metrics enough to justify a ratings upgrade.

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