Moody's rates Genesis Energy notes B2

Moody's Investors Service said it rated Genesis Energy, LP's planned senior unsecured notes B2.

Genesis' existing ratings are unchanged, including the B1 corporate family rating and B2 ratings on the outstanding senior unsecured notes.

The proceeds will be used to refinance the company's 2024 notes, repay borrowings under its revolving credit facility and for general partnership purposes.

"Genesis Energy's proposed notes issuance will improve its liquidity by addressing its next maturity of notes and repaying revolver borrowings," stated James Wilkins, a Moody's vice president, in a statement. "The financing will be leverage neutral."

The outlook is negative.

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