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Industry Report Card: North American Chemicals Companies' Credit Quality Should Remain Stable Through 2013 Apr 12 Product Image

Industry Report Card: North American Chemicals Companies' Credit Quality Should Remain Stable Through 2013 Apr 12

  • ID: 2127109
  • April 2012
  • Region: North America, United States
  • Standard & Poors

FEATURED COMPANIES

  • Acetex Corp.
  • Chemtura Corp.
  • General Chemical Corp.
  • Lilly Industries Inc.
  • Pioneer Corp. of America
  • Sterling Chemicals Inc.
  • MORE

Abstract
Credit quality at North American chemical companies should be generally stable this year and next under Standard & Poor's Ratings Services' baseline economic scenario, which forecasts modest U.S. economic growth in 2012 and 2013. We also see several ongoing industry trends that should support credit quality. For one, U.S. chemical production is increasingly more cost-efficient through the use of relatively low cost natural gas. This has shored up the chemical industry's competitive position relative to imports and made U.S. exports more competitive in some subsectors. We also believe that supply remains tight relative to demand for many products, including several commodity chemicals. Many companies reduced their capacity prior to and during the recession of 2008-2009, and capacity growth has not...

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: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.

Note: Product cover images may vary from those shown

- Air Products and Chemicals Inc.
- Ashland Inc.
- Momentive Specialty Chemicals Inc.
- Cabot Corp.
- Dexter Corp.
- The Dow Chemical Co.
- Dow Corning Corp.
- DuPont (E.I.) De Nemours & Co.
- NewMarket Corp.
- FMC Corp.
- Ferro Corp.
- Grace (W.R.) & Co.
- Hercules Inc.
- Occidental Chemical Corp.
- ICO Inc.
- The Lubrizol Corp.
- Quantum Chemical Corp.
- Olin Corp.
- PPG Industries Inc.
- Rohm and Haas Co.
- Sherwin-Williams Co.
- Union Carbide Corp.
- Celanese Americas LLC
- Flint Hills Resources L.P.
- Great Lakes Chemical Corp.
- Terra Industries Inc.
- Mississippi Chemical Corp.
- Nalco Chemical Co.
- Sterling Chemicals Inc.
- Hanna (M.A.) Co.
- Witco Corp.
- Ecolab Inc.
- Atlantis Plastics Inc.
- CNA Holdings LLC
- Lyondell Chemical Worldwide Inc.
- Valhi Inc.
- Huntsman Polymers Corp.
- Trans-Resources Inc.
- Lyondell Chemical Co.
- General Chemical Corp.
- J.M. Huber Corp.
- Axiall Corp.
- Morton International Inc.
- Uniroyal Chemical Corp.
- Phosphate Resource Partners L.P.
- BASF Corp.
- Mosaic Global Holdings Inc.
- Praxair Inc.
- Plastic Containers Inc.
- Dow Chemical Co. 1992-A Pass Through Trusts
- RPM International Inc.
- Foamex L.P.
- Millennium America Inc.
- Sweetheart Holdings Inc.
- Harris Chemical North America Inc.
- Methanex Corp.
- Huntsman LLC
- Eastman Chemical Co.
- Koppers Inc.
- The Scotts Miracle-Gro Co.
- Cytec Industries Inc.
- Geon Co.
- Polymer Group Inc.
- LaRoche Industries Inc.
- Pioneer Corp. of America
- Acetex Corp.
- NOVA Chemicals Corp.
- Westlake Chemical Corp.
- Potash Corp. of Saskatchewan Inc.
- Airgas Inc.
- Texas Petrochemicals L.P.
- Agrium Inc.
- International Specialty Products Inc.
- Solutia Inc.
- Sovereign Specialty Chemicals Inc.
- Pliant Corp.
- Furon Co.
- Innospec Inc.
- Formica Corp.
- MacDermid Inc.
- Norwood Promotional Products Inc.
- Wellman Inc.
- INVISTA B.V.
- Sensient Technologies Corp.
- Equistar Chemicals L.P.
- Diversey Inc.
- United Industries Corp.
- GenTek Inc.
- Royster-Clark Inc.
- Huntsman International LLC
- Valspar Corp.
- Huntsman International Holdings LLC
- OMNOVA Solutions Inc.
- Celanese AG
- Chemtura Corp.
- International Flavors & Fragrances Inc.
- OM Group Inc.
- Rain CII Carbon LLC
- Huntsman Corp.
- Chevron Phillips Chemical Co. LLC
- PolyOne Corp.
- CP Kelco ApS
- Monsanto Co.
- Resolution Performance Products LLC
- Kraton Polymers LLC
- Noveon Inc.
- ISP Chemco LLC
- Rockwood Specialties Group Inc.
- Albemarle Corp.
- MetoKote Corp.
- Flint Hills Resources LLC
- Sigma-Aldrich Corp.
- Fuller (H.B.) Co.
- Houghton International Inc.
- Huntsman Advanced Materials LLC
- Diversey Holdings Inc.
- Nalco Co.
- ThermaClime Inc.
- Celanese US Holdings LLC
- Supresta LLC
- Resolution Specialty Materials LLC
- Innophos Inc.
- Crystal U.S. Holdings 3 LLC
- Kraton Performance Polymers Inc.
- The Mosaic Co.
- Propex Inc.
- Koppers Holdings Inc.
- PQ Corp.
- CF Industries Inc.
- Tronox Inc.
- FiberVisions Delaware Corp.
- AGY Holding Corp.
- Unifrax Holding Co.
- Vertellus Specialties Inc.
- Arr-Maz Custom Chemicals Inc.
- Reichhold Industries Inc.
- Momentive Performance Materials Inc.
- PNA Intermediate Holding Corp.
- AZ Chem US Inc.
- CPG Finance Inc.
- Millennium Inorganic Chemicals
- Hilex Poly Co. LLC
- Arclin Canada Ltd.
- Univar Inc.
- Allen-Vanguard Corp.
- LyondellBasell Industries N.V.
- Armtec Holdings Ltd.
- Avantor Performance Materials Holdings S.A.
- General Chemical Holding Co.
- TPC Group LLC
- Columbian Chemicals Acquisition LLC
- Atkore International Inc.
- Nexeo Solutions LLC
- Indigold Carbon B.V.
- Potters Holdings II L.P.
- Norit Holding B.V.
- Trinseo S.A.
- Arizona Chemical Holdings Corp.
- Vantage Specialty Chemicals Inc.
- Sonneborn Holdings L.P.
- Road Infrastructure Investment LLC
- PL Propylene LLC
- Phillips Plastics Corp.
- Sterling Chemicals Holdings, Inc.
- Unifrax Corp.
- Burke Industries Inc.
- BetzDearborn Inc.
- Lilly Industries Inc.
- ClimaChem, Inc.
- Diamond Brands Inc.
- Moll Industries Inc.
- GEO Specialty Chemicals Inc.
- International Specialty Holdings Inc.
- Innophos Investments Holdings Inc.
- Covalence Specialty Materials Corp.

Note: Product cover images may vary from those shown
Note: Product cover images may vary from those shown

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