Moody's may lower OQ Chemicals

Moody's Investors Service said it placed OQ Chemicals International Holdings GmbH's B3 long term corporate family rating and B3-PD probability of default rating on review for downgrade.

Concurrently, Moody's placed on review for downgrade the B3 backed senior secured instrument ratings of the term loan Bs issued by OQ Chemicals Holding Drei GmbH and OQ Chemicals Corp., subsidiaries of OQ Chemicals.

Previously, the outlooks were stable.

The placement of the ratings on review for downgrade reflects the company's significant debt maturities in October 2024, when its €475 million and $500 million term loans B mature. Furthermore, the company's existing revolving credit facility will mature in July 2024, reducing its available liquidity, Moody’s said.

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