Moody's turns Trinseo outlook to stable

Moody's Investors Service said it changed Trinseo plc’s outlook to stable from negative and affirmed the Ba3 corporate family rating. The senior unsecured notes and senior secured bank credit facility ratings for Trinseo's subsidiary, Trinseo Materials Operating SCA, were also affirmed. Trinseo's speculative grade liquidity rating remains unchanged at SGL-1.

The agency noted that following two acquisitions, the company returned metrics to levels that support the current rating and make a downgrade unlikely over the next 12-18 months.

"While Trinseo still faces challenges from increasing raw material costs and the potential for slowing demand in Europe, they should still generate more than $600 million in EBITDA in 2022, which would result in credit metrics at the low end of the range for the Ba3 rating," stated John Rogers a Moody’s senior vice president and lead analyst on Trinseo, in a press 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.