S&P shifts Oxbow Carbon view to stable

S&P said it revised the outlook on Oxbow Carbon LLC to stable from negative and affirmed the B+ issuer rating. The BB- issue level and 2 recovery ratings on the company's first-lien credit facilities remain unchanged.

“The stable outlook reflects our belief that Oxbow will sustain leverage between 3.5x-4x over the next 12 months, an improvement over our previous forecast of above 4.5x for the same period, with increased free cash flow generation and modest growth in volumes as the global economy continues its recovery from the pandemic,” S&P said in a press release.

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