S&P ups Lubrizol notes to AA+

Standard & Poor's said it raised its issue ratings on Lubrizol Corp.'s $1.4 billion of existing senior unsecured notes to AA+ from BBB+.

The ratings upgrade reflects Berkshire Hathaway Inc.'s full guarantee of Lubrizol's previously outstanding public debt, S&P said.

S&P simultaneously removed the ratings from CreditWatch, where they had been placed with developing implications on March 14 after Lubrizol announced a definitive agreement for its acquisition. Lubrizol is a now a wholly owned subsidiary of Berkshire Hathaway.

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