S&P trims Sundyne to B-

S&P said it lowered its issuer credit rating on Star UK Midco Ltd. (Sundyne) and the issue-level rating on its first-lien credit facilities to B- from B. The recovery ratings are unchanged.

The outlook is negative.

“The downgrade reflects our view that the weak oil and gas market could cause Sundyne's revenue and profitability to fall, increasing leverage,” S&P said in a news release.

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