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S&P revises LOOP view to negative
S&P said it revised its outlook on LOOP LLC to negative from stable and affirmed its BBB+ issuer credit rating and A-2 short-term rating.
At the same time, S&P affirmed its BBB+ issue-level rating on LOOP's senior unsecured debt.
“The outlook revision reflects our expectation that LOOP's credit metrics will weaken, with expected average debt to EBITDA of approximately 3.6x for 2018-2020,” S&P said in a news release.
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