DBRS rates GreenField notes B (high)

DBRS said it assigned an issuer rating of BB (low) to GreenField Ethanol Inc. and a rating of B (high) with RR5 recovery rating to its senior secured second-lien guaranteed notes.

The trend is stable.

The rating recognizes the company's higher-than-average risk in its business profile due to the very challenging environment of the ethanol industry, DBRS said.

The rating is supported by GreenField's ability to mitigate the major risks affecting its operations, the agency noted.

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