Moody's assigns Genesis Energy notes B3

Moody's Investors Service said it assigned a B3 rating to Genesis Energy, LP's planned senior unsecured notes.

Genesis' other ratings are unchanged, including the B2 corporate family rating and B3 ratings on its outstanding senior unsecured notes.

Genesis will use the proceeds to refinance the company's 2025 notes, repay borrowings under its revolving credit facility and for general partnership purposes. The rating outlook is stable.

"Genesis Energy's proposed notes issuance will improve its liquidity by addressing its next maturity of notes," stated Thomas Le Guay, a Moody's vice president, in a press release. "The financing transactions will be leverage neutral."

The outlook is stable.

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