10:00 AM EDT, 05/10/2024 (MT Newswires) -- Moody's on Thursday assigned a Ba2 corporate family rating, Ba2-PD probability of default rating, SGL-3 speculative grade liquidity rating, and stable outlook to Superior Plus Corp. ( SUUIF ) .

At the same time, the rating agency withdrew Superior Plus LP's Ba2 corporate family rating, Ba2-PD probability of default rating, SGL-3 speculative grade liquidity rating and affirmed the Ba3-backed senior unsecured notes ratings.

The outlook at Superior Plus LP remains stable.

The ratings were reassigned to align to Superior upon which Moody's ratings are derived. The ratings of the unsecured notes will remain at the borrower, Superior Plus LP, and reflect the guarantee of the parent company.

The rating affirmations reflect Moody's expectation that Superior will continue to reduce financial leverage, mainly through EBITDA expansion underpinned by steady growth from Certarus, the agency said.

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