S&P lowers Maxum Enterprises

Standard & Poor’s said it lowered the corporate credit rating on Maxum Enterprises LLC (doing business as Pilot Thomas Logistics) to B from B+. The outlook is negative.

S&P does not rate the company’s and its subsidiaries’ debt facilities.

“The downgrade reflects deterioration in credit metrics and our view that profits will remain pressured over the next 12 months as a result of declines in drilling and frac-related activities in the energy sector,” S&P said in a news release.

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