CITGO Petroleum Corporation -- Moody's rates CITGO Petroleum's proposed bonds at B3; outlook stable

Moody's Investors Service (Moody's) assigned a B3 (LGD3) rating to CITGO Petroleum Corporation (CITGO Petroleum) proposed $750 million in senior secured notes due 2025. CITGO Petroleum's B3 ratings and stable outlook primarily reflect the company's solid credit metrics for its rating category, the location of its assets in the United States (Government of United States of America, Aaa stable), and certain protections to lenders provided by credit agreements.