New York, April 18, 2016 -- Moody's Investors Service, ("Moody's") downgraded Calumet Specialty Products Partners, L.P.'s (Calumet) Corporate Family Rating (CFR) to Caa1 from B2 and ratings on the existing senior unsecured notes to Caa2 from B3. The new secured notes due 2021 were assigned a B2 rating. The proceeds from the $400 million of new secured notes will be used to repay borrowings under the company's revolving credit facility and add cash to its balance sheet. The Speculative Grade Liquidity Rating was raised to SGL-3 from SGL-4. The outlook is negative.

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