Huntsman's Proposed $650 Million First-Lien Term Loan Rated 'BB-' Mar 11
- ID: 1826944
- March 2011
- Standard & Poors
NEW YORK (Standard & Poor's) March 3, 2011--Standard & Poor's Ratings Services said today that it assigned its 'BB-' issue rating and '2' recovery rating to Huntsman International LLC's proposed $650 million first-lien term loan, indicating expectations of substantial recovery (70%-90%) in the event of a payment default. The 'BB-' issue rating is one notch above the 'B+' corporate credit ratings on Huntsman International LLC and its parent, Huntsman Corp. The outlooks on both corporate credit ratings are stable. (For an updated recovery analysis on Huntsman, see our recovery report to be published shortly on RatingsDirect.) The company will use proceeds from the proposed debt, due 2017, to pay down a portion of the outstanding amounts under an existing $1.64...
Companies mentioned in this report are:
- Huntsman Corp.
- Huntsman International LLC
Action: New Rating
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Research type: News
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