Summary: PolyOne Corp. Aug 03
Standard & Poors, August 2003
Abstract
The ratings on PolyOne Corp. reflect the company's fair business profile in performance polymers and services, offset by subpar credit protection measures resulting from a combination of weak profitability and high debt leverage. PolyOne, formed in August 2000 through the merger of Geon Co. with M.A. Hanna Co., has revenues of $2.5 billion. The company holds good market positions in vinyl plastic and rubber compounding, color and additive concentrates, and plastic resin distribution. Other businesses include specialty resins, specialty polymer formulations, and engineered films. PolyOne also holds a 24% interest in the Oxy Vinyls L.P. joint venture with Occidental Petroleum Corp. and a 50% interest in the Sunbelt chlor-alkali joint venture with Olin Corp. Oxy Vinyls is a large North...
Companies mentioned in this report are: PolyOne Corp.
Action: Review
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This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
PolyOne Corp.
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