Moody's cuts Nexeo loans, notes

Moody's Investors Service said it downgraded Nexeo Solutions, LLC's corporate family rating to B2 from B1.

In conjunction with the downgrade of the corporate family rating, Moody's also downgraded the senior secured term loan to B2 and the senior subordinated notes to Caa1.

The outlook is stable.

Moody's said the downgrade is a result of Nexeo Solutions' earnings and margins underperforming both management's and its expectations due to higher than anticipated operating costs and modest free cash flow generation.

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