Moody’s ups Ineos Styrolution, loans

Moody's Investors Service said it upgraded Ineos Styrolution Holding Ltd.’s (Styrolution) corporate family rating to Ba2 from Ba3 and probability of default rating to Ba2-PD from Ba3-PD.

Concurrently, the agency upgraded to Ba2 from Ba3 the ratings of the outstanding term loan B facilities due March 2024, borrowed by Ineos Styrolution Group GmbH and Ineos Styrolution US Holding LLC.

The outlook is stable.

Moody’s said the upgrade acknowledges the improved operating performance of Styrolution over the last 18 months, the improvement in debt protection metrics, low leverage of about 1.2 times pro forma for the repayment of the €250 million borrowed from Ineos Group Holdings SA and solid liquidity position.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.