Moody’s cuts Calumet, notes

Moody's Investors Service said it downgraded Calumet Specialty Products Partners, LP's corporate family rating to B2 from B1 and the ratings on its senior unsecured notes to B3 from B2.

The speculative grade liquidity rating was lowered to SGL-4 from SGL-3.

The outlook was moved to negative from stable.

"Calumet's B2 CFR and negative outlook reflect our expectations the company will realize lower profit margins in 2016 and its liquidity will weaken, if the quarterly distribution continues at the current rate," Moody's vice president James Wilkins said in a news release.

© 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.