Fitch Cuts Olin's Long-Term Rating to BB+ Citing Prolonged Earnings Weakness
Fitch Ratings lowered Olin Corporation's long-term issuer default rating to 'BB+' from 'BBB-' and placed the company on a Negative Outlook, also downgrading its unsecured notes to 'BB+' with an 'RR4' recovery score. Fitch affirmed the revolver and Term Loan A at 'BBB-' with an 'RR2' recovery rating, citing sustained earnings weakness, an expected 2…