S&P cuts River Cree

S&P said it lowered its long-term corporate credit ratings on River Cree Enterprises LP to B from B+. The outlook is negative.

At the same time, S&P lowered its issue-level ratings on the company's second-lien senior secured debt to CCC+ from B-.

“The downgrade reflects our expectation of River Cree's adjusted EBITDA interest coverage being in the high 1x range over the next 12 months, which is weaker than we previously forecast,” said S&P credit analyst Andrew Ng 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.