Amsted Industries Incorporated -- Moody's affirms Ba2 rating of Amsted Industries; outlook stable; assigns Ba3 rating to new senior unsecured notes

New York, February 28, 2014 -- Moody's Investors Service ("Moody's") has affirmed the Ba2 Corporate Family Rating ('CFR') for Amsted Industries Incorporated ('Amsted') and maintained its stable outlook, as Amsted is seeking to refinance its senior unsecured notes and replace its senior secured credit facility. At the same time, Moody's has assigned a Ba3 rating to the new $500 million senior unsecured notes due 2022 that Amsted plans to issue as part of this refinancing. The ratings consider Amsted's leading market positions in each of the company's business segments, its strong cash flows and limited leverage, balanced against increasing share repurchase obligations under its Employees' Stock Ownership Plan ('ESOP').

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