S&P rates Calumet notes B+

Standard & Poor's said it affirmed the B+ corporate credit rating on Calumet Specialty Products Partners LP.

The agency also said it assigned a B+ rating and 4 recovery rating to Calumet's $850 million senior unsecured notes.

The outlook is stable.

The ratings reflect a view that the operating diversity attributed to Calumet's acquisition of Anchor Drilling Fluids USA, Inc. is offset by an expectation for increased leverage pro forma for the transaction, S&P said.

Given the volatile nature of the industry and Calumet's aggressive financial measures for the B+ rating, the agency said it intends to closely monitor the credit throughout the year.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.