|Expense Ratio (net)||N/A|
|Last Cap Gain||N/A|
|Morningstar Risk Rating||N/A|
|Beta (5Y Monthly)||N/A|
|5y Average Return||N/A|
|Average for Category||N/A|
Concurrently, Moody's downgraded Hi-Crush's Corporate Family Rating (CFR) to C from Caa2 and senior unsecured rating to C from Caa3. "The sudden drop in crude oil prices caused by decisions made by the Organization of Petroleum Exporting Countries, and the decline in overall oil demand due to weak economic activity from the coronavirus outbreak, have materially impacted our expectations of Hi-Crush's creditors ability to recover their investment" said Emile El Nems, a Moody's VP-Senior Analyst.
Q4 2019 Hi-Crush Inc Earnings Call
This downgrade reflects Moody's expectations that in 2020, Hi-Crush's liquidity, profitability and key credit metrics will deteriorate further due to on-going volatility in the oil and gas end market and the persistent weakness in the frac sand industry. Despite recent mine closures and production cuts, Moody's does not expect significant price recovery anytime soon, as many miners have committed to higher volume at lower prices.