S&P ups Westlake, debt to BBB

Standard & Poor's said it raised its corporate credit rating on Westlake Chemical Corp. to BBB from BBB-.

The outlook is stable.

At the same time, the agency raised its rating on the senior unsecured debt to BBB from BBB-.

"The upgrade reflects our expectations that over the next few years the company will continue to benefit from being a low-cost North American-based petrochemical producer, utilizing cheaper natural gas-based ethane feedstocks," S&P credit analyst Daniel Krauss said in a news release.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.