Moody's: Kronos to SGL-3

Moody's Investors Service said it moved Kronos Worldwide Inc.'s speculative grade liquidity rating to SGL-3 from SGL-1.

The company's Ba2 corporate family rating and stable outlook were affirmed due to the significant reduction in its term loan in the first quarter of 2013.

Moody's said the change reflects the potential that Kronos will not meet one of its financial covenants under its term loan or revolving credit facility agreements.

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