S&P lowers Coffeyville outlook to negative

Standard & Poor's said it revised the CreditWatch implications on Coffeyville Resources LLC to negative from positive.

The revision follows the massive floods that resulted from several days of rainfall in southeastern Kansas, where the refinery is located, the agency said, adding that the extent of the damage is still unknown, although it may be significant in light of media accounts of the refinery being flooded.

The refinery has been shut down indefinitely, according to S&P.

Affected ratings include the company's corporate credit rating at B.

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