Fitch gives Tronox loan BB

Fitch Ratings said it initiated ratings on Tronox Worldwide LLC's and Tronox Finance's $350 million senior unsecured debt at B+ while it assigned a rating to Tronox's senior secured credit facility of BB and assigned issuer default rating of B.

The outlook is stable.

Fitch said the ratings are supported by Tronox's market position, geographical reach and strong customer retention, but the ratings incorporate the poor financial results to date as well as limited improvement going forward based on the agency's projections.

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