Huntsman's Proposed $650 Million First-Lien Term Loan Rated 'BB-' Mar 11

  • ID: 1826944
  • March 2011
  • Standard & Poors
1 of 3

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

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

Note: Product cover images may vary from those shown
2 of 3

- Huntsman Corp.
- Huntsman International LLC

Note: Product cover images may vary from those shown
3 of 3
Note: Product cover images may vary from those shown




Our Clients

  • Fluidigm Corporation
  • Apple, Inc.
  • CEVA Santé Animale
  • Abbott Laboratories Ltd.
  • Merck Group
  • Allergan Inc.
  • Pfizer Inc.