Moody's moves Momentive view to positive

Moody's Investors Service said it changed Momentive Performance Materials Inc.'s outlook to positive from stable.

"The change to positive outlook reflects Momentive's exceptionally strong earnings and better than expected credit metrics which strengthens its financial flexibility and reduces the refinancing risk of its maturing debt in 2024. The company has benefited from robust demand, strong price increases and an increasing share of specialty products. Its business transformation will help strengthen competitiveness and enhance credit quality over time," said Jiming Zou, Moody's lead analyst for Momentive, in a press release.

The agency also affirmed Momentive's B2 corporate family rating, B2-PD probability of default rating and B1 rating on the company's first-lien senior secured term loan facilities.

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