Fitch revises HollyFrontier view to negative

Fitch Ratings said it affirmed the long-term issuer default rating and senior unsecured notes ratings of HollyFrontier Corp. at BBB-, but revised the outlook to negative from stable.

“The negative outlook reflects the dramatic deterioration in refining conditions stemming from the coronavirus pandemic, as widespread state and local lockdowns in the U.S. have created unprecedented declines in refined product demand, particularly gasoline,” said Fitch in a press release.

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