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Huntsman Corp. 'B' Rating Remains On CreditWatch Negative As $1.7 Billion Lawsuit Settlement Prompts Company Refinancing Jun 09 Product Image

Huntsman Corp. 'B' Rating Remains On CreditWatch Negative As $1.7 Billion Lawsuit Settlement Prompts Company Refinancing Jun 09

  • Published: June 2009
  • Standard & Poors

Abstract
-- Huntsman announced an agreement with Credit Suisse and Deutsche Bank to settle claims related to the terminated acquisition of Huntsman by Apollo-owned Hexion. -- We plan to review our ratings on Huntsman once more details on the company's prospective capital structure become available. -- Our review will also consider prospects for an improvement in earnings in 2009 and beyond. NEW YORK (Standard & Poor's) June 24, 2009--Standard & Poor's Ratings Services said today that its ratings on Salt Lake City-based Huntsman Corp. remain on CreditWatch with negative implications, following Huntsman's announcement of its agreement with Credit Suisse and Deutsche Bank to settle claims over Huntsman's lawsuit related to the failed $6.5 billion acquisition of Huntsman by Apollo Management-owned Hexion...

Companies mentioned in this report are:
- Huntsman Corp.
- Momentive Specialty Chemicals Inc.

Action: CreditWatch Update

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 READ MORE >

- Huntsman Corp.
- Momentive Specialty Chemicals Inc.

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