Moody's assigns Kirby Baa3 issuer rating

Moody's Investors Service said it assigned a Baa3 senior unsecured issuer rating to Kirby Corp.

Moody's said it will also withdraw the Baa3 rating on Kirby's $121 million medium-term notes shelf registration upon its expiration on Nov. 28.

The outlook is stable.

The Baa3 rating reflects Kirby's steady operating performance and maintenance of a solid credit profile over the course of the business cycle, the agency said, noting that operating margins, debt to EBITDA and retained cash flow to net debt have strengthened from beginning of year levels, notwithstanding significant weather-related service interruptions and the recent challenging economic conditions expected to worsen over the near term.

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