Research Update: Kraton Performance Polymers 'BB-' Rating Affirmed, Issue Ratings Also Affirmed After $100 Million Add-On; Outlook Stable Mar 12
Standard & Poors, March 2012
Abstract
Subsidiaries of U.S.-based chemical maker Kraton Performance Polymers Inc. plan to add on $100 million to their existing senior unsecured notes due 2019. We are affirming all of our ratings on Kraton, including the 'BB-' corporate credit rating and 'B+' senior unsecured debt and '5' recovery ratings on the notes. The stable outlook indicates our expectation that Kraton can maintain credit metrics appropriate for the ratings despite this increase in debt. On March 15, 2012, Standard & Poor's Ratings Services affirmed its 'BB-' corporate credit rating on Houston-based Kraton Performance Polymers Inc. (Kraton, the guarantor of the notes). At the same time, we affirmed all our other ratings on the company, including our 'B+' senior unsecured debt rating on the...
Companies mentioned in this report are: Kraton Performance Polymers Inc.,Kraton Polymers LLC,Formosa Petrochemical Corp.,Kraton Polymers Capital Corp.
Action: Affirmed
Action: Outlook: Stable
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.
Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
Kraton Performance Polymers Inc.,Kraton Polymers LLC,Formosa Petrochemical Corp.,Kraton Polymers Capital Corp.
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