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People & Business :: Companies

Moody’s raises LyondellBasell credit rating to investment-grade

12:35 PM MST | November 20, 2012 | Vincent Valk

Credit ratings service Moody’s (New York) has raised LyondellBasell’s corporate credit rating two notches, to ‘Baa3,’ above junk-bond status. The increase is due to financial metrics that Moody’s calls “exceptionally strong,” as well as the company’s size, diversity, and exposure to low feedstock costs in North America.   "The extraordinary dividend announced last month was small relative to the company's projected cash flow for 2012 and will still leave $2 billion to $3 billion of cash on the balance...

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