Moody's affirms Rhodia, ups outlook to positive

Moody's Investors Service said it affirmed Rhodia SA corporate family rating at Ba3 while the outlook has been changed to positive from stable.

Moody said its affirmation of Rhodia's corporate family rating reflects the continuous strength in the operating performance of the group underpinned by the improved business profile of the issuer.

The affirmation also recognizes Rhodia's substantial improvement in profitability over the first nine months of fiscal year 2007 with a 210 bps increase in reported recurring EBITDA margin to 15.7% despite adverse raw materials, energy costs and foreign exchange environment, the agency noted.

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