S&P: Coffeyville view positive

Standard & Poor's said it revised the CreditWatch implications on Coffeyville Resources LLC's CCC+ corporate credit rating to positive from negative. The ratings were placed on CreditWatch with negative implications on July 3.

The positive CreditWatch listing follows Coffeyville's initial public offering on Oct. 19 and S&P's expectation that proceeds will be used to reduce company debt, the agency said.

The possible downgrade had reflected the need for short-term liquidity, which S&P said the company addressed through additional borrowing.

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