Republic Engineered receives $45 million credit

Republic Engineered receives $45 million credit

North America's financially troubled steelmaker Republic Engineered Products LLC announced that it has received $45 million credit to maintain its operations. Republic officials stated that the company has obtained the credit from a group of financial institutions, led by Fleet Capital Corp. Furthermore, Perry Strategic Capital Inc. seems as a potential buyer of the company. Accordingly, bankruptcy court can set an auction date in the coming days to receive offers for the company.