| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers P > Headlines for PPG Industries Inc. > News item |
Moody's affirms PPG Industries
Moody's Investors Service said it affirmed the Baa1 senior unsecured rating and Prime-2 (P-2) commercial paper rating of PPG Industries, Inc. following the announcement of a deal to merge its commodity chemicals business with Georgia Gulf Corp.
The outlook is stable.
As a result of the transaction, PPG's shareholders will own over half of the equity of the combined company and PPG will receive $900 million in cash.
"Although over half of the proceeds go directly to PPG's shareholders, this transaction will reduce the volatility in PPG's earnings and cash flows," Moody's senior vice president John Rogers said in a news release.
© 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.