S&P trims Chemours

S&P said it downgraded Chemours Co.’s ratings, including the issuer credit rating to BB-, and the issue-level ratings on the senior secured debt to BB+ and the unsecured debt to B+.

The recovery ratings on the secured debt and unsecured debt are unchanged at 1 and 5, respectively.

The outlook is stable.

“We believe that future operating performance at Chemours Co. will continue to reflect challenges faced in 2019 related to the loss of volumes and market share,” the agency said in a news release.

“We do anticipate some improvement in 2020 volumes, and earnings, but not significantly, and expect that credit metrics will remain weak.”

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