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Calumet Assigned 'B' Corporate Credit Rating; New Debt Rated
Standard & Poors, Nov 2005
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
Abstract
NEW YORK (Standard & Poor's) Nov. 3, 2005--Standard & Poor's Ratings Services said today that it assigned its 'B' corporate credit rating to independent petroleum refining company Calumet Lubricants Co. L.P. At the same time, Standard & Poor's assigned its 'B+' senior secured debt rating and its '1' recovery rating to Calumet's proposed $175 million term loan facility due 2012. The 'B+' rating and '1' recovery rating indicate the expectation for the full recovery of principal in the event of payment default. Standard & Poor's also assigned its 'BB-' senior secured rating and '1' recovery rating to Calumet's $50 million letter of credit facility due 2012. The 'BB-' rating and '1' recovery rating indicate the expectation for the full recovery...
Companies mentioned in this report are: Calumet Specialty Products Partners L.P.
Action: New Rating
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