S&P affirms Huntsman

Standard & Poor's said it affirmed its ratings on Huntsman Corp. and its subsidiary Huntsman International LLC.

The ratings were removed from CreditWatch with positive implications, where they were placed on Sept. 29, 2006, pending the completion of the previously announced sale of its European base chemicals and polymers business to Saudi Basic Industries Corp. (A+/stable/A-1), S&P added.

The outlook is positive.

The agency noted that the rating actions follow the completion of the transaction, with proceeds substantially as expected, including $685 million in cash (prior to closing adjustments.

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