- Language: English
- Published: October 2012
- Region: Germany
Orion Engineered Carbons Bondco Assigned Final 'B' Rating; Senior Secured Notes Rated 'B'; Outlook Stable Sep 11
- Published: September 2011
- Standard & Poors
Germany-based chemical company Orion Engineered Carbons Bondco GmbH confirmed in a recent trading statement the completion of the acquisition of Evonik Industries' carbon black activities. The company's capital structure is in line with our previous expectations, consisting essentially of -355 million and $350 million in senior secured notes. We are assigning a final corporate credit rating of 'B', as well as issue ratings of 'B' to the senior secured notes and 'BB-' to the supersenior $250 million revolving credit facility. The stable outlook factors in our more conservative base line EBITDA assumptions and related financial metrics, which allow for recent peak cycle EBITDA to decline as macroeconomic conditions worsen. PARIS (Standard & Poor's) Sept. 15, 2011--Standard & Poor's Ratings Services...
Companies mentioned in this report are: Orion Engineered Carbons Bondco GmbH,Evonik Industries
Action: Outlook: Stable
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Research type: News
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Orion Engineered Carbons Bondco GmbH,Evonik Industries