08 July 2009 10:49 [Source: ICIS news]
PRAGUE (ICIS news)--Fitch Ratings has raised its issuer default rating (IDR) on Canadian petrochemicals producer NOVA Chemicals from 'B-' to 'B+' following the acquisition of the company by International Petroleum Investment Co (IPIC), the ratings agency said on Wednesday.
Giving NOVA's rating outlook as 'Stable', Fitch said its move “reflects the improvements to NOVA's credit profile following the closing of its acquisition by IPIC”.
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