Moody’s assigns Kenan negative outlook

Moody’s Investors Service said it changed the outlook for Kenan Advantage Group Inc. to negative from under review and confirmed the company’s ratings, including the B3 senior secured and Caa3 senior unsecured ratings.

This concludes the review for downgrade started on April 2, the agency said.

“The negative outlook reflects Moody’s expectation of meaningful downwards pressure on revenue and earnings likely into 2021, which could lead to weaker-than-expected liquidity in an uncertain economic environment,” the agency said in a press release.

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