Calumet

Calumet has increased its asset-backed credit facility by $100 million to $600 million; the maturity remains January 2031 and Bank of America acts as agent. Subsidiary Montana Renewables drew the final $34 million tranche from a loan guarantee agreement with the U.S. Department of Energy to finance the MaxSAF expansion. Remaining project capital for MaxSAF was reduced from an initial $1.2 billion to $137 million through repurposing of adjacent facilities. » Plus sur de.investing.com

Calumet shares rose to a new 52-week high of $51.51 and are currently trading at $51.43 with a market capitalization of about $4.5 billion. The stock gained 207.95% over the past year and 150% year-to-date, but InvestingPro warns the shares may be overvalued. Calumet reported mixed Q2 2026 results: revenue of $1.44 billion beat estimates, but adjusted earnings showed a loss of $1.09 per share; adjusted EBITDA was $175 million and operating cash flow exceeded $90 million. S&P Global upgraded the rating to B-, and several analysts raised their price targets on the back of strong specialty oil and biofuel margins. » Plus sur de.investing.com

S&P Global Ratings has raised Calumet’s issuer rating from CCC+ to B- and upgraded ratings on individual issues to B+ (senior secured) and B- (unsecured); the outlook is stable. The move reflects better-than-expected results in the first half of 2026, improved credit metrics and higher revenue and cash flow driven by strong margins in specialty oils, fuels and renewable fuels. S&P expects adjusted debt/EBITDA of about 6x–7x with a tendency to improve, notes SAF capacity expansions at Montana Renewables and cites upcoming bond maturities and increased RIN obligations as risks to monitor. » Plus sur de.investing.com