Moody’s upgrades KMG

Moody's Investors Service said it upgraded all long-term ratings for KMG Chemicals, Inc., including the corporate family rating to B1 from B2 and the senior secured ratings to B1 from B2.

The agency said the action follows an equity offering that will enable the company to significantly improve key credit metrics.

"Management has followed through with its commitment to delever, improving significantly the company's credit quality and driving an upgrade in the long-term credit ratings," Ben Nelson, Moody's vice president, senior credit officer and lead analyst for KMG, said in a news release.

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