Moody’s assigns OCI notes Ba3

Moody’s Investors Service said it assigned OCI NV’s proposed $850 million equivalent senior secured notes issuance a Ba3 rating.

Moody’s also affirmed OCI’s Ba2 corporate family rating, the Ba2-PD probability of default rating, and the Ba3 rating on the company’s outstanding senior secured notes.

The company intends to use the proceeds and drawings under its revolving credit facility to repay its 2023 senior secured notes.

The outlook remains negative.

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