Moody's may still lower US Huntsman ratings

02 October 2008 23:39  [Source: ICIS news]

HOUSTON (ICIS news)--Moody's could still lower Huntsman's ratings because it's$10.6bn (€7.5bn) merger with Hexion Specialty Chemicals could still fall apart, the ratings firm said on Thursday.

The merger was still uncertain despite a court ruling in favour of Huntsman, Moody's said.

If Hexion abandons the deal, Huntsman would - at the very least - receive a $325m termination fee, Moody's said. In addition, it could receive monetary damages.

Such payments, however, would only be paid after a considerable amount of time and court action, Moody's said.

Other factors pressuring Huntsman include high costs for energy and feedstock, Moody's said.

($1 = €0.71)

To discuss issues facing the chemical industry go to ICIS connect

By: Al Greenwood
+1 713 525 2653

< previous article(VIDEO – ICIS news Americas Lunchtime Bulletin 29 Oct 2009)

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly