Moody’s downgrades OCI Beaumont

Moody's Investors Service said it downgraded OCI Beaumont LLC's corporate family rating to B2 from B1 and revised its outlook to negative as a result of the extended weakness in methanol prices and expected further declines in ammonia pricing before year-end, which have compressed margins and lowered the agency’s expectations for OCI's credit metrics.

Moody's also lowered the speculative grade liquidity rating to SGL-4 from SGL-3 due to the increased possibility of covenant noncompliance within the next 12 months as a result of a deeper-than-anticipated cyclical downturn in these two markets.

© 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.