in this issue
People & Business :: Companies
Ratings Agencies Diverge on Impact of Ashland-ISP Deal
10:43 AM MDT | August 26, 2011 | Vincent Valk
Credit rating agencies Moody's (New York) and Standard & Poor's (S&P; New York) took divergent actions in response to Ashland's acquisition of International Specialty Products (ISP), which closed earlier this week. Moody's reaffirmed Ashland's existing 'Ba1' rating, while S&P downgraded Ashland one notch, to 'BB' from 'BB+'. S&P's rating is now one notch lower than Moody's comparable rating. The $3.2 billion deal is being funded with a combination of cash and debt. The debt consists of two separate term loans, one worth $1.5 billion and the...
This information is only available to Chemical Week subscribers.
Forgot your user ID or password?
Not an IHS Chemical Week member yet?
Here's why you should be:
100% Satisfaction Guarantee