Moody’s upgrades Huntsman debt

Moody's Investors Service said it affirmed the Ba1 corporate family ratings of Huntsman Corp. and Huntsman International LLC and changed the outlook to positive from stable.

The agency also upgraded Huntsman International's secured credit facility to Baa2 from Baa3, its unsecured debt rating to Ba1 from Ba2 and affirmed its speculative grade liquidity rating of SGL-1.

"The positive outlook reflects the substantial amount of debt reduced in 2017, management's statements regarding the importance of maintaining low leverage going forward, and the generation of meaningful free cash flow," John Rogers, senior vice president at Moody's and lead analyst for Huntsman, said in a news release.

"If Huntsman can continue to grow earnings and cash flow while maintaining low financial leverage, its ratings could be upgraded.”

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.