Moody’s upgrades Hi-Crush

Moody's Investors Service said it upgraded Hi-Crush Partners LP's corporate family rating to B3 from Caa1, the probability of default rating to B3-PD from Caa1-PD, and senior secured term loan B due 2021 to B3 from Caa1.

The speculative grade liquidity rating was upgraded to SGL-2.

The outlook was changed to stable from positive.

The agency said the upgrade reflects improvement in key credit metrics and an expectation that industry conditions will continue to improve in 2018 on the strength of frac-sand demand and increasing volumes.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.