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Moody's may lower Alon USA
Moody's placed the ratings for Alon USA Energy, Inc. under review for possible downgrade.
The affected ratings are the company's B2 corporate family rating, B3 probability of default rating, the B1 and LGD 2 (25%) rating on Alon's term loan B facility, and the B1 and LGD 2 (25%) rating to the term loan at its subsidiary, Alon Refining Krotz Springs, Inc.
The review for downgrade reflects Moody's concern over the company's liquidity and ability to meet the financial covenants under certain of its credit agreements given the number of challenges facing the refining industry and the company in particular.
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