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Near-Term Outlook for North American Commodity Chemicals Still Negative, But Some Improvement Ahead Dec 01

  • ID: 1804342
  • December 2001
  • Region: North America, United States
  • Standard & Poors

FEATURED COMPANIES

  • ClimaChem, Inc.
  • Eastman Chemical Co.
  • Equistar Chemicals L.P.
  • Huntsman LLC
  • Lyondell Chemical Co.
  • Methanex Corp.
  • MORE

Abstract
The near-term trend in credit quality for North American commodity chemical companies remains decidedly negative, at least for several more months. The U.S. economy is officially in recession, many product areas are oversupplied, and the events of Sept. 11 have raised unprecedented economic and geopolitical uncertainties. These issues could accelerate the pace of negative rating actions among North American chemical producers in the near term if weaker economic conditions, including an expected decline in fourth-quarter GDP, further delay improvements to the financial profiles of some debt-burdened companies. The deterioration of credit quality in the sector largely reflects the continued aggressive use of debt stemming from record levels of merger and acquisition spending and from the widely accessible capital markets of...

Companies mentioned in this report are:
- Lyondell Chemical Co.
- Mosaic Global Holdings Inc.
- Methanex Corp.
- Huntsman LLC
- Eastman Chemical Co.
- Polymer Group Inc.
- NOVA Chemicals Corp.
- Potash Corp. of Saskatchewan Inc.
- ClimaChem, Inc.
- Wellman Inc.
- Equistar Chemicals L.P.
- Chevron Phillips Chemical READ MORE >

Note: Product cover images may vary from those shown

- Lyondell Chemical Co.
- Mosaic Global Holdings Inc.
- Methanex Corp.
- Huntsman LLC
- Eastman Chemical Co.
- Polymer Group Inc.
- NOVA Chemicals Corp.
- Potash Corp. of Saskatchewan Inc.
- ClimaChem, Inc.
- Wellman Inc.
- Equistar Chemicals L.P.
- Chevron Phillips Chemical Co. LLC
- Voridian Co.

Note: Product cover images may vary from those shown
Note: Product cover images may vary from those shown

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