New York, October 03, 2016 -- Moody's Investors Service said Reliance Steel & Aluminum Co (Baa3 stable) has entered into a new credit agreement, extending the maturity of its revolver and establishing a new upsized term loan to provide a portion of the funds needed to repay its $350 million senior secured notes due November 2016. These actions are credit positive for Reliance, but will have no impact on its ratings.
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