Moody's changes SunCoke view to stable

Moody's Investors Service said it changed the outlook for SunCoke Energy, Inc. to stable from negative.

"The change in the outlook to stable reflects a significant improvement in the North American steel industry conditions and the renewal and the extension of the company's cokemaking take-or-pay contracts that were previously set to expire in 2020 and 2021," said Botir Sharipov, a Moody’s vice president and lead analyst for SunCoke Energy, in a press release.

Concurrently, Moody's affirmed SunCoke's B1 corporate family rating, the B1-PD probability of default rating and the B2 rating of senior unsecured notes of SunCoke Energy Partners, LP, which SunCoke guarantees. The speculative grade liquidity rating remains SGL-2.

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