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Aristech Chemical Corp. Aug 00
Standard & Poors, Aug 2000
Abstract
The ratings on Aristech Chemical Corp., a subsidiary of Mitsubishi Corp., reflect an average business risk profile as a manufacturer of cyclical intermediate chemicals, a somewhat aggressive financial profile, and a strong, supportive relationship with its parent company, which has strong credit quality. Although Mitsubishi provides no explicit assurance of support, Aristech is one of Mitsubishi's largest business investments and, by far, its largest investment in chemicals in the strategically important North American market. In addition, Mitsubishi provides substantial liquidity to Aristech in the form of intercompany loans. Aristech also contributes meaningfully to Mitsubishi's consolidated earnings, although this fluctuates with the petrochemical cycle. Aristech is a midsize producer of a diverse range of intermediate chemicals, including polypropylene and phenol-based products...
Companies mentioned in this report are: Aristech Chemical Corp.,Mitsubishi Corp.
Action: Review
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: Full Analysis
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