U.S. chemicals and allied products

American Pacific Corp., B2; probability-of-default rating: B2; first-lien revolver and term loan, upgraded to Ba3 from B2, LGD2, 26%; second-lien term loan, upgraded to B3 from Caa1, LGD4, 66%.

Arr-Maz Custom Chemicals, B2; probability-of-default rating: B2; first-lien term loan and revolver, upgraded to B1 from B2, LGD3, 36%; second-lien term loan, Caa1, LGD5, 86%.

CII Carbon, B1; probability-of-default rating: B2; revolver and term loan, B1, LGD3, 33%.

Compass Minerals Group, Inc., B1; probability-of-default rating: B1; term loan and revolver, upgraded to Ba3 from B1, LGD2, 29%.

Crystal US Holdings 3 LLC, B1; probability-of-default rating: B1; discount notes, upgraded to B2 from Caa2, LGD6, 95%. BCP Crystal US Holdings Corp., credit-linked letter-of-credit facility, revolvers and term loan, upgraded to Ba3 from B1, LGD3, 40%; notes, B3, LGD5, 88%. CNA Holdings, Inc., notes, pollution control bonds and industrial revenue bonds, downgraded to B3 from B2, LGD5, 80%.

FiberVisions Delaware Corp., B2; probability-of-default rating: B2; first-lien revolver and term loan, upgraded to B1 from B2, LGD3, 43%; second-lien term loan, Caa1, LGD5, 89%.

Georgia Gulf Corp., Ba3; probability-of-default rating: Ba3; revolver and term loan, Ba2, LGD3, 33%; senior unsecured and global unsecured notes, B1, LGD4, 67%; senior subordinated notes, B2, LGD6, 93%.

Graftech International Ltd., B1; probability-of-default rating: B1; revolver, upgraded to Ba1 from Ba3, LGD1, 7%; global notes and convertible debentures, B2, LGD4, 62%.

Hercules Inc., Ba2; probability-of-default rating: Ba2; revolver, term loan and senior secured notes, upgraded to Baa3 from Ba1, LGD2, 18%; senior unsecured notes, Ba2, LGD3, 40%; senior subordinated notes, Ba3, LGD4, 61%; convertible subordinated debentures and junior subordinated debentures, B1, LGD5, 89%; senior unsecured shelf, prospective Ba2, LGD3, 40%; subordinated shelf, upgraded to prospective Ba3 from prospective B1, LGD4, 61%; junior subordinated shelf, prospective B1, LGD5, 89%; preferred stock shelves, prospective B1, LGD6, 97%.

Hexion Specialty Chemicals Inc., B2; probability-of-default rating: B2; revolver, letter-of-credit facility and term loan, upgraded to Ba3 from B2, LGD2, 29%; second-lien senior secured notes, B3, LGD5, 77%; unsecured notes and debentures and sinking-fund debentures, Caa1, LGD6, 94%; pollution control revenue bonds, upgraded to B3 from Caa1, LGD5, 77%.

Houghton International, Inc., B2; probability-of-default rating: B2; term loan and revolver, B2, LGD3, 45%.

Huntsman International LLC, B1; probability-of-default rating: B1; revolver, term loan and guaranteed senior secured global notes, Ba3, LGD3, 31%; guaranteed global notes and guaranteed senior global notes, B2, LGD4, 69%; senior subordinated notes, B3, LGD6, 91%.

Innophos Investments Holdings, Inc., B2; probability-of-default rating: B2; senior notes, upgraded to Caa1 from Caa2, LGD5, 89%. Innophos Inc., revolver and term loan, upgraded to Ba2 from B2, LGD2, 17%; senior subordinated notes, upgraded to B3 from Caa1, LGD4, 62%.

Invista BV, Ba2; probability-of-default rating: Ba2; revolver and term loans, upgraded to Ba1 from Ba2, LGD2, 29%; notes, Ba3, LGD5, 79%.

ISP Chemco, Ba3; probability-of-default rating: Ba3; revolver and term loan, Ba3, LGD3, 49%.

Kraton Polymers LLC, B1; probability-of-default rating: B1; term loan and revolver, upgraded to Ba3 from B1, LGD3, 34%; notes, B3, LGD5, 85%.

Lyondell Chemical Co., Ba3; probability-of-default rating: Ba3; revolver, term loan and guaranteed senior secured notes, upgraded to Ba2 from Ba3, LGD2, 28%; guaranteed senior unsecured notes and debentures, B1, LGD5, 73%; senior subordinated notes, B2, LGD6, 95%. Equistar Chemicals LP, Ba3; probability-of-default rating: Ba3; notes, B1, LGD4, 64%.

Millennium Chemicals Inc., Ba3; probability-of-default rating: Ba3; convertible debentures, B1, LGD4, 66%. Millennium America Inc., revolvers and term loan, upgraded to Baa3 from Ba2, LGD2, 12%; notes, B1, LGD4, 66%.

The Mosaic Co., Ba3; probability-of-default rating: Ba3; revolver, upgraded to Baa3 from Ba2, LGD2, 14%. Mosaic Global Holdings Inc., term loans, upgraded to Baa3 from Ba2, LGD2, 14%; senior unsecured notes and senior debentures, downgraded to B2 from B1, LGD5, 89%; guaranteed global notes, Ba3, LGD4, 57%. Phosphate Acquisition Partners LP, senior unsecured notes, downgraded to B2 from Ba3, LGD6, 95%.

Nalco Finance Holdings, B1; probability-of-default rating: B1; revolver, upgraded to Ba2 from B1, LGD2, 29%. Nalco Co., term loans, upgraded to Ba2 from B1, LGD2, 29%; senior notes, upgraded to B1 from B2, LGD3, 43%; senior subordinated notes, upgraded to B3 from Caa1, LGD5, 86%; senior discount notes, upgraded to B3 from Caa2, LGD6, 95%.

NewMarket Corp., Ba3; probability-of-default rating: Ba3; revolver, upgraded to Baa3 from Ba2, LGD2, 12%; notes, downgraded to B2 from B1, LGD5, 81%.

Oglebay Norton Co., B1; probability-of-default rating: B1; revolver, term loan and delayed draw term loan, B1, LGD3, 49%.

Omnova Solutions Inc., B2; probability-of-default rating: B2; revolver, upgraded to Ba2 from B1, LGD2, 21%; notes, downgraded to B3 from B2, LGD4, 64%.

PQ Corp., B1; probability-of-default rating: B1; revolver and term loan, upgraded to Ba2 from B1, LGD2, 26%; notes, B3, LGD5, 84%.

Rockwood Specialties Group Inc., B1; probability-of-default rating: B1; revolver and term loans, upgraded to Ba2 from B1, LGD2, 27%; notes, B3, LGD5, 81%.

Supresta LLC, B1; probability-of-default rating: B1; term loan and revolver, upgraded to Ba3 from B1, LGD3, 35%.

Texas Petrochemicals LP, Ba3; probability-of-default rating: Ba3; term loan, Ba3, LGD4, 51%.

Tronox Worldwide LLC, Ba3; probability-of-default rating: Ba3; revolver and term loan, upgraded to Ba1 from Ba3, LGD2, 21%; notes, B1, LGD5, 75%.

Unifrax Corp., B2; probability-of-default rating: B2; revolver and term loan, upgraded to Ba3 from B2, LGD2, 28%.

United Agri Products, Ba3; probability-of-default rating: Ba3; revolver, upgraded to Ba1 from Ba2, LGD2, 20%; term loan, Ba3, LGD3, 46%.

Wellman Inc., B2; probability-of-default rating: B2; first-lien term loan, upgraded to Ba3 from B1, LGD2, 29%; second-lien term loan, downgraded to B3 from B2, LGD5, 76%.

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