S&P: Huntsman on developing watch

Standard & Poor's said it placed its ratings on Huntsman Corp. and its affiliate Huntsman International LLC on CreditWatch with developing implications, including the BB- corporate credit ratings.

The CreditWatch placement follows the company's recent announcement that it is undertaking a review of its corporate structure that could result in the spin-off to shareholders of its $6 billion base chemicals and polymers operations, S&P said.

The agency noted that if Huntsman pursues a spin-off to shareholders, key factors for review will include the amount of debt to be placed on each business, disclosure of the legal entities that will hold the respective assets of each business and any contractual or structural changes that will affect the existing debt obligations that will remain in place.

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