S&P affirms LSB Industries

S&P said it affirmed its CCC corporate credit rating on LSB Industries Inc.

The issue-level ratings on the company's senior secured notes due in 2019 remain CCC and the recovery rating remains 4, indicating an expectation of average (30% to 50%; rounded estimate: 40%) recovery in the event of a payment default.

The outlook is negative.

“The company continues to experience operational issues at both its El Dorado and Pryor plants, and although the company has shown improved operating results thus far in 2017, we still view leverage metrics to be at unsustainable levels for the next year,” the agency said in a news release.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.