Moody's lifts Wynnewood Refining view to stable

Moody's Investors Service said it changed Wynnewood Refining Co.'s outlook to stable from negative.

The agency also said it affirmed its B2 corporate family rating, along with the B2 rating on its term loan due 2014 guaranteed by Gary-Williams Energy Corp.

The stable outlook reflects an improved liquidity profile and expected strong near-term cash flows as a result of favorable sector conditions for mid-continent refiners, Moody's said.

In addition, the company is expected to have healthy covenant compliance headroom over the next 12 months, the agency said.

The ratings also consider the company's numerous crude oil sourcing logistics and advantageous location, Moody's said, but are restrained by the company's single refinery status.

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