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S&P rates TPC Group B
Standard & Poor's said it assigned a B corporate credit rating to TPC Group Inc. The outlook is stable.
At the same time, the agency said it lowered the ratings on TPC Group LLC, including the corporate credit rating, to B from B+. The agency also removed all of TPC Group LLC's ratings from CreditWatch.
"The rating actions follow the announcement that First Reserve and SK Capital have closed the acquisition of TPC Group Inc., in a transaction valued at over $900 million," said S&P credit analyst Danny Krauss in a news release.
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