03.10.2014 20:29:00

Essar Steel Algoma Inc. -- Moody's corrects ESA's ABL/Term Loan rating withdrawal

New York, October 03, 2014 -- Moody's Investors Service has corrected the rating on Essar Steel Algoma Inc.'s ABL/Term loan facility (ISIN XAC3328TAB89) from withdrawn to Caa1, LGD2. The rating was withdrawn on September 20, 2014 due to an internal administrative error. Although the secured credit facility originally had a maturity date of September 20, 2014, the obligations under the ABL/Term loan remain outstanding and subject to the Plan of Arrangement approved by the Ontario Superior Court of Justice on September 15, 2014.

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