S&P lifts Rhodia

Standard & Poor's said it raised Rhodia SA's long-term corporate credit rating to BB from BB-, along with the ratings on the unsecured notes to BB from BB- with a recovery rating of 4.

The outlook is stable.

The upgrade reflects the much improved chemical operating environment, Rhodia's strong pricing power, good position in growth markets and segments and resulting sustainably higher profits and credit metrics, S&P said.

The stable outlook reflects supportive near- to medium-term industry fundamentals, the agency said.

But, S&P said it anticipates volume growth to be limited in 2011 after the strong rebound, including some restocking, this year.

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