Moody’s rates OCI CFR, loans B1

Moody's Investors Service said it assigned a B1 corporate family rating to OCI Partners LP and B1 ratings to its new $400 million senior secured term loans due 2025; OCI Beaumont LLC is the guarantor.

The agency effectively raised the corporate family rating at OCI from the previously assigned B2 corporate family rating at OCI Beaumont as a result of improvement metrics and outlook, which reflects the improvement in methanol fundamentals and pricing, as well as the strong parent support exhibited during recent market weakness.

Net proceeds will be used to repay the existing term loan B at OCI Beaumont, repay amounts outstanding on the existing revolving credit facility, and to partially repay debt outstanding under the subordinated related-party term loan.

The outlook is stable.

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