S&P affirms Ineos

Standard & Poor's said it affirmed the B- long-term corporate credit ratings on Ineos Group Holdings plc, Ineos Holdings Ltd., Ineos Vinyls Finance plc and Ineos Vinyls Ltd.

The outlook is negative.

Ratings were removed from CreditWatch, where they were placed with negative implication on Nov. 18, following Ineos' waiver request tied to its senior debt covenants.

The action reflects the success of Ineos' covenant waiver request for the fourth-quarter 2008 and first-quarter 2009, the agency said.

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