NEW YORK (S&P Global Ratings) March 10, 2025--S&P Global Ratings today assigned its 'B' issue-level rating and '3' recovery rating to U.S.-based flat-rolled aluminum producer JW Aluminum Continuous Cast Co.'s (B/Stable; JWA) proposed $350 million senior secured notes due 2030. The '3' recovery rating indicates our expectation for meaningful (50%-70%; rounded estimate: 55%) recovery in the event of a conventional payment default. The company plans to use the proceeds from these notes to refinance its upcoming $300 million 10.25% senior secured notes due 2026, to fund dividends to parent entities up to $50 million, and for general corporate purposes. JWA recently strengthened its credit profile by completing the plant modernization program at its Mt. Holly site, which will likely support
