Moody's assigns B3 to LSB notes

Moody's Investors Service said it assigned a B3 rating to LSB Industries, Inc.’s upcoming $500 million of senior secured notes due in 2028.

The B3 rating is in line with the corporate family rating, reflecting their preponderance in the capital structure, the agency said.

The proceeds will be used to refinance $435 million of senior secured notes due in 2023 and for general corporate purposes.

"The transaction will result in a slight increase in leverage, but will allow the company to improve the maturity profile and lower interest cost," said Anastasija Johnson, vice president and senior credit officer at Moody's, in a press release.

The outlook is stable.

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