Moody’s eyes W.R. Grace for downgrade

Moody’s Investors Service said it placed W.R. Grace & Co.-Conn. ’s Ba2 corporate family rating, Ba2-PD probability of default rating, Ba1 first-lien senior secured credit facility and Ba3 senior unsecured notes ratings on review for downgrade. The SGL-2 speculative grade liquidity rating is unchanged. The agency changed the outlook to ratings under review from stable.

“The review for downgrade follows the announced acquisition of Albemarle’s fine chemistry services business that further stresses credit metrics already weak for the existing rating category,” said Domenick R. Fumai, a Moody’s vice president and lead analyst for W.R. Grace, in a press release.

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