Moody’s drops Commercial Barge to negative

Moody's Investors Service said it changed the outlook on Commercial Barge Line Co. to negative from stable and affirmed its B2 corporate family rating, B2-PD probability of default rating and B3 rating on its $1.15 billion first-lien bank credit facility.

Moody’s said the outlook change reflects end-market pressures facing the company, driven by low transportation volumes primarily in the grain and dry commodity sectors, including steel, and a continued low freight rate environment affecting both its dry bulk and liquid transportation segments.

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