S&P cuts Genesis Energy

S&P said it cut its ratings on Genesis Energy LP and its senior unsecured notes to B from B+. The notes’ 3 recovery rating is unchanged.

“We have revised our EBITDA forecast for Houston-based Genesis Energy L.P. to reflect the slower than expected recovery in all of its business segments and that soda ash revenues won't return to 2019 levels until 2023,” S&P said in a press release.

The outlook is stable.

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