US ethanol producer Aventine says files for bankruptcy
Posted by admin / Under Aventine Press
US ethanol producer Aventine said Wednesday it has filed for Chapter 11 bankruptcy protection amid poor margins and product oversupply. The Pekin, Illinois-based company warned last month it could go bankrupt and that it was in default on some fixed-rate notes. It has reached an agreement with note holders in order to stay in operation, Aventine said in a statement. Moody's Investors Service late Wednesday said it downgraded Aventine's corporate family rating to C from Ca and its probability of default rating to D from Ca after the bankruptcy filing. "The ratings will be withdrawn in the near future due...
Published on Friday 10th of February 2012 01:03:31 AM
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