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QUANEX RATINGS UPGRADED BY MOODY'S AND S&P

 QUANEX RATINGS UPGRADED BY MOODY'S AND S&P
 HOUSTON, May 6 /PRNewswire/ -- Quanex Corporation (NYSE: NX)


announced today that Moody's Investors Services and Standard & Poor' Corp. have upgraded their ratings on Quanex's Senior Notes and Convertible Subordinated Debt. Moody's has increased the ratings on the senior notes and the subordinated debt to a Ba2 from Ba3 and to B1 from B2, respectively. Standard and Poor's has increased its rating on the subordinated debt to BB- from B+ and stated that the implied rating on the senior notes would be BB+.
 In its release, Moody's stated that "The rating upgrade reflects Quanex's proven performance in a recessionary environment, the strengthening of its equity base following the ongoing conversion of its convertible debentures and the expectation of additional operating efficiencies resulting from large capital investments." Standard & Poor's stated that "Quanex's good competitive position in its specialty steel and aluminum businesses has allowed the company to generate better than anticipated earnings in the face of cyclical lows in its major markets."
 CORPORATE PROFILE
 Quanex is a technological leader in the manufacture of steel, aluminum and titanium specialty metal products for transportation, capital equipment, home building and remodeling and energy processing markets.
 Latest 12 months (Through first quarter 1992) Data: sales; $571.3 million, operating income; $31.1 million, net income; $10.9 million, cash from operations; $45.1 million, primary earnings per share; $.94, quarterly dividend rate; $.13 per share, book value per share; $13.12, return on common equity; 7.1 percent, common stock price range (latest 52 week High/Low) $29-7/8 and $14-1/8.
 -0- 5/6/92
 /CONTACT: C.A. Meador of Quanex Corporation, 713-961-4600/
 (NX) CO: Quanex Corporation ST: Texas IN: MNG SU: RTG


LR -- NY091 -- 7306 05/06/92 17:12 EDT
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Date:May 6, 1992
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