Moody's rates OCI loan B1

Moody's Investors Service said it assigned a B1 corporate family rating to OCI Beaumont LLC.

Moody's also rated its new $360 million first-lien term loan B due 2019 at B1, a probability of default rating at B2-PD and a speculative grade liquidity rating at SGL-3.

Proceeds from the transaction are expected to be used to refinance existing $125 term loan B-1 and $235 term loan B-2; the new term loan will have a similar structure.

The outlook is stable.

"OCI has restarted the Terra's Beaumont facility and has been operating at close to nameplate capacity for the past seven months," Moody's senior vice president John Rogers said in a news release.

"Credit metrics on a full year basis are expected to be strong, given our forecast for low natural gas prices and limited downside for methanol and ammonia prices."

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