Moody's gives Oxbow loan Ba3

Moody's Investors Service said it assigned Ba3 ratings to Oxbow Carbon LLC's $600 million secured revolving credit facility expiring in December 2015, $475 million secured term loan A expiring December 2015, $38.3 million secured term loan B expiring May 2014 and $539.5 million secured term loan B-1 expiring May 2016.

The company has amended and restated its bank credit facility to, among other things, increase the amount of the revolver, add the new term loan A and extend the maturity dates, the agency added.

At the same time, Moody's said it affirmed Oxbow's Ba3 corporate family and probability of default ratings.

The outlook is stable.

Oxbow's corporate family rating reflects the inherent volatility of the fuel grade petcoke, CPC and aluminum end markets, the agency added.

© 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.