|
|
 |
|
Viewing report
|
|
|
|
Belgian Chemical Producer Taminco Assigned 'B+' Long-Term Rating; Outlook Stable Jan 12
Standard & Poors, Jan 2012
Abstract
Belgian chemical producer Taminco Global Chemical Corp. has strong, sustainable, recession-resilient market positions, and high EBITDA margins, in our view. But it serves a niche market. Taminco's debt should increase significantly when its acquisition by Apollo Global Management is completed, and our base-line scenario shows limited lowering of this debt for two years. We are assigning our 'B+' long-term corporate credit rating to Taminco. The stable outlook reflects our expectation of funds from operations (FFO) to debt of about 12% in 2012 and 2013, supported by broadly stable EBITDA and nil to modest shareholder distributions and acquisitions. PARIS (Standard & Poor's) Jan. 20, 2012--Standard & Poor's Ratings Services said today it assigned its 'B+' long-term corporate credit rating to Belgium-headquartered...
Companies mentioned in this report are: Taminco Global Chemical Corporation
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.
|
|
|
|
