Fitch rates Huntsman notes BBB-

Fitch Ratings said it assigned long-term issuer default ratings of BBB- to Huntsman Corp. and Huntsman International, LLC.

Fitch also said it assigned a BBB- rating to Huntsman International's senior unsecured revolving credit facility and senior unsecured notes.

The outlook is positive.

The positive outlook reflects Huntsman's low gross leverage and strong liquidity position, which should help lessen the effects of the company's relative commodity exposure, Fitch said.

Should Huntsman maintain a total debt-with-equity credit operating EBITDA ratio of less than 2.3x, the agency said, and continue to execute on its strategy of further differentiating its business profile, the company could be upgraded to BBB.

Huntsman's credit profile is highlighted by low gross leverage and strong free cash flow generation as a result of portfolio restructuring initiatives that will lead to solid financial flexibility through the ratings horizon, Fitch said.

These credit strengths are offset by Huntsman's relatively higher commodity exposure, its production and the commoditized nature of a portion of its performance products segment, the agency said.

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