S&P raises Westlake Chemical, gives bonds BB+

Standard & Poor's said it raised its ratings, including its corporate credit rating, on Westlake Chemical Corp. to BB+ from BB.

The outlook is stable.

At the same time, the agency said it assigned its BB+ issue rating to the company's proposed $100 million senior unsecured revenue bonds maturing in 2032, noting that the bonds are to be issued by the Louisiana local Government Environmental Facilities and Community Development Authority of the State of Louisiana.

"The upgrade reflects its expectation that the improvement in Westlake's operating performance and its leverage-related credit metrics is sustainable," said S&P credit analyst Paul Kurias.

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