S&P ups Ineos view to positive

Standard & Poor's said it revised the outlook to positive from stable on Ineos Group Holdings SA and Ineos Holdings Ltd.

The agency said it affirmed their B- long-term corporate credit rating.

The ratings reflect the expected decrease in Ineos' adjusted debt to below €7.3 billion by year-end 2011 as a result of the recently announced €700 million disposal of its 50% refinery stake, S&P said.

The ratings also consider the positive impact of the partial disposal on its profitability and free cash flow as the disposal price was attractive, the agency said.

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