S&P lowers corporate credit ratings of US Tronox

23 June 2008 22:11  [Source: ICIS news]

HOUSTON (ICIS news)--Standard & Poor's Rating Services (S&P) lowered on Monday the corporate credit ratings of US pigment producer Tronox due to continued weakness in housing.

Tronox new rating is B, down one notch from B, S&P said. The outlook for Tronox is negative.

Tronox produces titanium dioxide (TiO2), and the housing market is a major end user of the pigment. Other factors challenging Tronox include high energy costs, S&P said.

On the other hand, Tronox has good geographic diversity, favourable market positions and access to proprietary process technologies, S&P said.

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By: Al Greenwood
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