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People & Business :: Companies

Moody's Assigns 'Stable' Outlook to LyondellBasell Debt

3:00 PM MDT | March 15, 2010 | Vincent Valk

Moody's Investors Service (New York) has assigned a 'stable' outlook to LyondellBasell's debt, including $3.25 billion in new issuances. The new debt will be composed of $2.25 billion in first-priority seven-year notes, and a $1 billion term loan, Moody's says. Last week, LyondellBasell said that the new debt will include senior notes and a term loan, but a spokesman declined to confirm the exact proportions of the $3.25 billion total. The new debt is part of the company's post-bankruptcy financing plan. Moody's ratings include some of the company's older debt...

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