Moody’s cuts Compass Minerals

Moody's Ratings said it downgraded Compass Minerals International, Inc.'s corporate family rating to B1 from Ba3, its probability of default rating to B1-PD from Ba3-PD and the rating of its senior unsecured notes to B2 from B1.

The speculative grade liquidity rating remains at SGL-3.

The outlook is stable.

“Governance consideration is a key driver of this rating action given the high leverage and the recent suspension of the two key growth projects that consumed significant amount of capital over the last few years,” the agency said 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.