Rentech Nitrogen slammed again after cash distribution warning

|About: Rentech Nitrogen Partners, ... (RNF)|By:, SA News Editor

Rentech Nitrogen Partners (RNF -12.3%) is under pressure after announcing a change in the timing of its cash distributions and saying cash distributions related to Q4 could be as low as zero, extending Friday's losses on news of a lower than expected Q3 distribution.

RNF blames the deteriorating outlook on a greater than expected decline in prices for ammonium sulfate prices and the illiquidity of the market which has continued longer than expected.

EBITDA for the Pasadena facility is expected to improve from Q3 but remain negative for Q4 and the full year; Q4 forecast for the East Dubuque facility is reduced by higher costs and lower sales due to a compressor-related repair.

RTK -9.5%.