S&P rates Methanex notes BBB-

Standard & Poor’s said it assigned a BBB- rating to Methanex Corp.’s $300 million notes due 2024 and $300 million notes due 2044.

The notes will be senior unsecured obligations and will rank equally with Methanex’s other unsecured and unsubordinated debt, S&P said.

The notes will be subordinate to secured debt and structurally subordinate to the obligations of Methanex’s subsidiaries to the extent there are not mitigating factors, the agency said.

The proceeds will be used to repay debt, fund ongoing projects and maintenance activities and for working capital purposes, S&P said.

The ratings, including its BBB- corporate credit rating, reflect the company’s satisfactory business risk profile and intermediate financial risk profile, the agency said.

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