| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers R > Headlines for Rain CII Carbon LLC > News item |
Moody’s drops Rain CII, debt to B3
Moody's Investors Service said it downgraded the ratings of Rain CII Carbon LLC, including the corporate family rating to B3 from B2, probability of default rating to B3-PD from B2-PD and senior secured ratings to B3 from B2.
The outlook is negative.
Moody’s said the downgrade reflects the company's persistently weak debt protection metrics, with debt/ EBITDA, as adjusted by Moody's, tracking at levels that exceed those normally appropriate for a B rating, following the increase in debt to fund the early 2013 acquisition of Ruetgers.
Due to the challenging industry conditions, the agency expects no material improvement over the next 12 to 18 months.
© 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.