S&P lifts Chemtura

Standard & Poor's said it raised its ratings, including the senior unsecured debt ratings to BB+ from B and corporate credit rating to BB+ from BB-, on Chemtura Corp.

The ratings are removed from CreditWatch with positive implications, where they were placed on March 9.

The outlook is stable.

The upgrades reflect an immediate strengthening of Chemtura's business mix and cash flow protection and debt leverage measures as a result of the equity-financed acquisition of a much higher-rated company, S&P said.

S&P said the ratings on Chemtura incorporate the vulnerability of its operating results to competitive pricing pressures, raw-material costs and cyclical markets in addition to weak cash flow protection measures.

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