11 September 2007 17:48 [Source: ICIS news]
LONDON (ICIS news)--Standard & Poors (S&P) has changed its outlook on UK-based acrylics producer Lucite to negative from stable due to higher costs in its markets, the rating agency said on Tuesday.?xml:namespace>
“The outlook revision reflects S&P’s concerns over Lucite’s ability to pass on rising raw material and energy costs to customers in an increasingly challenging market environment,” said S&P credit analyst Sophia Dedemadis.
S&P added that Lucite’s ratings could come under pressure if it undertakes additional shareholder-oriented measures or mid-to-large debt-funded acquisitions.
“The outlook could be revised back to stable if the company is able to demonstrate sustainable improvement in operating performance, specifically management of input costs,” added S&P.
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