S&P lifts Rhodia

Standard & Poor's said it raised the long-term corporate credit rating on Rhodia SA to BB from BB- and affirmed the B short-term corporate credit rating.

The outlook is stable.

The upgrade reflects expectations that the improved operating and financial results achieved in 2007, the agency said, coupled with steady debt repayment, will continue in 2008 and 2009.

Ratings reflect achieved portfolio enhancements, track record of improving profitability and cash flow generation, continued focus on markets with leading positions, cost savings and material customer, product, end-market and geographic diversification, the agency said.

Profit cyclicality, exposure to raw material and energy costs, capital intensity and competition are key negative factors, S&P noted.

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