Moody's assigns Caa1 rating to LSB's add-on notes
Rating Action: Moody's assigns Caa1 rating to LSB's add-on notes. Global Credit Research- 18 Jun 2019. New York, June 18, 2019-- Moody's Investors Service assigned a Caa1 rating to LSB Industries, Inc.' s proposed $35 million add-on to its $400 million senior secured notes due in 2023. The company intends to use approximately $20 million of the proceeds from these notes to invest in various capital projects over the next 12-18 months aimed at improving margins, including product...LSB Industries is a holding company. Through its subsidiaries, the company manufactures and markets chemical products. Within its agricultural products, the company produces and sells urea ammonia nitrate, high density ammonium nitrate (HDAN) and ammonia, all of which are nitrogen-based fertilizers. Within its industrial acids and other chemical products, the company manufactures and sells industrial acids and other chemical products primarily to the polyurethane intermediates, paper, fibers, emission control, and electronics industries. Within its mining products, the company produces and sells low density ammonium nitrate, HDAN and ammonium nitrate (AN) solution to the mining industry.
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