RPT - S&P: issue rtgs assigned to Ryerson Holding Corp. subsidiaries

Sept 26 (Reuters) - (The following statement was released by the rating agency) Overview -- Chicago-based-based Ryerson Holdings Corp.'s subsidiaries, Ryerson Inc. and Joseph T. Ryerson & Son Inc., intend to issue $600 million of new senior secured notes due 2017 and $300 million of new senior unsecured notes due 2018. The company expects to use the proceeds to refinance all of the its existing holding company and operating company notes and reduce its revolver borrowings by $50 million. --