New York, August 09, 2013 -- McJunkin Red Man Corporation's (MRC Global, Inc.) first half 2013 operating results have been weak due to reduced spending levels in the upstream sector and in the transmission segment of the midstream sector along with lower line pipe and oil country tubular goods (OCTG) prices in the US. Moody's is expecting these trends to continue in the second half and to result in the company's adjusted EBITDA declining by a significant amount in 2013. However, Moody's still expects the company's credit metrics to remain relatively strong for its rating due to the debt reduction and refinancing activities pursued over the past 18 months. For further details please refer to the issuer comment dated August 9, 2013 and posted on www.moodys.com.

Vollständigen Artikel bei Moodys lesen