Moody's boosts Compass Minerals

Moody's Investors Service said it upgraded Compass Minerals International, Inc.'s corporate family rating to Ba2 from Ba3 as a result of improvement in the company's leverage profile and credit metrics.

The issue ratings on the company's term loan and revolver remain Ba2, as determined in accordance with Moody's loss given default methodology.

The outlook is stable.

Affected ratings include the company's probability of default rating, up to Ba2 from Ba3, and the $477 million guaranteed senior secured term loan facility due 2012 affirmed at Ba2 (LGD3, 40%) and $125 million guaranteed senior secured revolving credit facility due 2010 affirmed at Ba2 (LGD3, 40%).

According to Moody's, the upgrade reflects improvement in Compass Minerals' credit metrics and favorable industry conditions.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.