S&P shifts Venator view to negative

S&P said it revised the outlook for Venator Materials plc to negative from stable.

“Our revision of the outlook to negative from stable reflects our expectation that there is an at least one-in-three probability that a challenging operating environment, combined with high capital spending, will weaken Venator Materials plc’s credit metrics from current levels,” said S&P in a news release.

S&P said it affirmed the B+ issuer credit rating on Venator, the BB rating on the company’s senior secured debt, and BB- issue rating on its unsecured debt. The 1 and 2 recovery ratings, respectively, remain unchanged.

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