Moody's lifts Oxbow

Moody's Investors Service said it upgraded the ratings of Oxbow Carbon LLC, including the company's corporate family rating to Ba3 from B1, its probability of default rating to Ba3 from B1, the rating on its $350 million senior secured revolver to Ba3 from B1 and the rating on its senior secured term loan to Ba3 from B1.

The outlook is stable.

According to the agency, the upgrade to Ba3 recognizes the progress Oxbow has made in reducing debt and expanding EBITDA over the last several years, which has led to a greatly improved leverage profile.

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