New York, November 16, 2016 -- Moody's Investors Service, ("Moody's") downgraded CVR Partners, LP's corporate family rating to B2 from B1, its probability of default rating to B2-PD from B1-PD, and the senior secured notes to B2 from B1. The rating actions reflect the nitrogen fertilizer industry downturn that is expected to stress operating performance into 2018, at a minimum. Moody's expects CVR's financial metrics to weaken in 2017 as low nitrogen fertilizer prices will continue to compress margins as new nitrogen capacity is absorbed into the market. CVR's Speculative Grade Liquidity rating was affirmed at SGL-3. The outlook is negative. This action concludes the review commenced on October 14, 2016.

Vollständigen Artikel bei Moodys lesen