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S&P: Chemicals debt at record levels

7:16 AM MDT | August 23, 2013

Low interest rates and easy access to credit markets have driven chemical companies’ debts up to record levels, according to a new report by Standard & Poor’s (S&P; New York). Total reported debt at chemical companies rated by S&P totaled nearly $150 billion in early 2013, the ratings service says. Among the 42 companies S&P has rated consistently since 2007, debt levels have increased 71% since that time, to around $120 billion, S&P says. Many chemical companies have tapped the favorable debt markets to push out maturities...

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