Moody’s upgrades CVR Energy to B1 on improved balance sheet and liquidity
Moody's upgraded CVR Energy (NYSE:CVI) to B1 from B2, citing improved balance sheet and liquidity. The refiner's debt reduction and cash flow generation were noted, but risks include operational outages and regulatory uncertainty. Liquidity is strong, with $600M in cash and a $550M credit facility. Future upgrades depend on scale and low leverage.
