S&P: HMP Equity, units on watch positive

Standard & Poor's said its ratings on HMP Equity Holdings Corp. and its affiliates, Huntsman LLC, Huntsman International Holdings LLC and Huntsman Advanced Materials LLC remain on CreditWatch positive.

On watch are Huntsman LLC's B corporate credit rating, B senior secured rating and CCC+ senior unsecured rating, HMP's B corporate credit and CCC+ senior secured rating, Huntsman International Holdings LLC's B corporate credit rating and CCC+ senior unsecured rating, Huntsman International LLC's B senior secured, B- senior unsecured and CCC+ subordinated ratings and Huntsman Advanced Materials LLC's B corporate credit and B senior secured ratings.

S&P said the CreditWatch update follows a review of the recently amended Form S-1 relating to the pending initial public offering by Huntsman Corp., a newly formed holding company and parent of Huntsman LLC, Huntsman International and Huntsman Advanced Materials.

The ratings on Huntsman Corp. and its affiliates will benefit from an improved capital structure following the IPO and recognize the company's good prospects for further strengthening of the financial profile as the chemicals cycle improves, S&P said.

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