US CREDIT - AK Steel seen too tight without buyout

Newswire

NEW YORK, Jan 25 (Reuters) - AK Steel Holding Corp.'s credit spreads continued their recent run tighter on Wednesday but some observers said the market is now too bullish on this name unless a stronger credit buys it. The Middletown, Ohio-based steelmaker on Tuesday reported a dramatic improvement in fourth-quarter results, which helped to propel the stock up more than 27 percent on the day. The company reported a fourth-quarter net loss of $41.5 million, which was down nearly 60 percent ...

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