Fitch rates Calumet Specialty loans BB-, B-

Fitch said it assigned Calumet Specialty Products Partners, LP a long-term issuer default rating of B-.

Fitch also assigned a BB-/RR1 rating to Calumet's senior secured revolving credit facility and FILO facility and a B-/RR4 rating to the senior unsecured notes.

The outlook is stable.

“Calumet's ratings are supported by the improvements to the company's credit profile over the past 18 to 24 months. These improvements include several credit-friendly self-help steps that have enabled the company to delever, including suspending distributions in April 2016 and the repayment of $400 million of senior secured notes in 2Q'18 with the proceeds from asset divestitures,” Fitch said in a news release.

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