S&P: Taminco on positive watch

Standard & Poor’s said it placed the ratings on Taminco Global Chemical Corp., including the B+ corporate credit rating, on CreditWatch with positive implications.

The action follows news that the higher-rated Eastman Chemical Co. has entered into a definitive agreement to acquire Taminco, S&P said.

The agency said it believes the proposed combination will improve Taminco’s credit quality and it expects to raise the ratings on the company upon completion of the transaction as proposed.

The transaction is expected to close by the end of 2014, subject to regulatory approvals, S&P said.

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