Moody’s upgrades Arkema, view to stable

Moody’s Investors Service said it upgraded to Baa1 from Baa2 the long-term issuer rating of Arkema and the senior unsecured regular bond rating and the junior subordinated bond rating was upgraded to Baa3 from Ba1.

“The upgrade of the issuer rating to Baa1 reflects the continued rebalancing of Arkema’s portfolio towards specialty chemicals. Moody’s views the higher share of specialty chemicals favorably as these chemical products tend to be less prone to volatile cyclical swings and carry a higher EBITDA margin. Pro-forma acquisitions and the planned divestment of its functional polyolefins (FP) the share of specialty chemicals is around 74%,” said Moody’s in a press release.

The outlook was changed to stable from positive.

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