S&P cuts Venator

S&P said it downgraded Venator Materials plc to D from CCC-, its senior secured term loan due 2024 and senior secured notes due 2025 to D from CCC and its senior unsecured notes due 2025 to D from CC.

“The downgrade follows Venator's announcement that it filed for Chapter 11 bankruptcy protection under a prepackaged reorganization plan. The company and certain of its subsidiaries filed a voluntary petition for a Chapter 11 reorganization in the U.S. Bankruptcy Court for the Southern District of Texas on May 14, 2023,” S&P said in a press release.

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