01 June 2011 21:33 [Source: ICIS news]
HOUSTON (ICIS)--Moody's Investors Service may downgrade the ratings outlook of US-based Ashland because the company plans to acquire International Specialty Products (ISP) for $3.2bn (€2.2bn), the ratings firm said on Wednesday.
During its review, Moody's will consider the outlook of the combined companies, potential synergies and the possibilities of cost savings, it said.
Moody's will also review financing costs and any environmental clean-up costs from long-shuttered operations.
Ashland and ISP make biocides, oilfield chemicals, pharmaceutical ingredients, cosmetics and other fine chemicals.
($1 = €0.69)
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.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections