S&P ups Koch Resources

Standard & Poor's said it raised its short-term corporate credit ratings on Koch Resources LLC and its wholly owned subsidiary, Flint Hills Resources LLC, to A-1+ from A-1.

The agency said it also raised the commercial paper rating on Koch Resources to A-1+ from A-1. The agency also affirmed the A+ long-term corporate credit ratings on both entities. The outlook remains stable.

"The upgrades reflect our application of revised criteria and our view of KR and FHR's 'exceptional' liquidity," said S&P credit analyst Scott Sprinzen in a news release.

"Under our existing liquidity criteria, companies with exceptional liquidity should be able to withstand severe adverse market conditions over the next two years while still having sufficient liquidity to meet their obligations."

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