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LSB Industries, Inc. -- Moody's assigns Caa1 rating to LSB's add-on notes

Moody's Investors Service ("Moody's") 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 increase in debt is relatively small and if executed as planned, these projects should enhance LSB's earnings potential and help the company delever over time. Pro forma for these projects, LSB's Moody's adjusted debt/EBITDA declines slightly to 7 times from 7.5 times in the twelve months ended March 31, 2019.