Research Update: PolyOne Corp. 'BB-' Rating Affirmed On Planned Acquisition Of ColorMatrix Group; Proposed Financing Rated 'BB-' Oct 11
- Language: English
- Published: October 2011
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.
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