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S&P lowers LSB Industries
Standard & Poor’s said it lowered the rating on LSB Industries Inc. to B- from B+.
The agency also said it lowered the rating on the company’s senior secured notes to B- from B+. The recovery rating remains at 3, indicating 50% to 70% expected default recovery.
The outlook is stable.
The stable outlook reflects an expectation that the company’s credit measures will support the highly leveraged financial risk profile, S&P said.
The company has been experiencing weaker performance due to sluggish recovery from its past operational difficulties and the large capital investment associated with the expansion of the El Dorado plant, the agency said.
The ratings also assume no change to the company’s business risk profile, S&P said.\
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