Renewable Energy Group, Inc.: Credit opinion following new B1 CFR assignment
Our credit view of REG reflects its low leverage, good liquidity, and biofuels experience, but is offset by its modest scale and its reliance on regulatory mandates for profitability .Renewable Energy Group is a biofuels producer with a nationwide distribution and logistics system. The company participates in each aspect of biomass-based diesel production, from acquiring feedstock, managing construction and operating biomass-based diesel production facilities, to marketing, selling and distributing biomass-based diesel and its co-products. To do this, the company utilizes this nationwide production, distribution and logistics system to focus on converting natural fats, oils and greases into biofuels. The company owns and operates a network of biorefineries, which are located in the United States and Germany.
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