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Momentive Opts Not to Rework Loan

1:35 PM MST | January 25, 2010 | Vincent Valk

Momentive has opted not to move ahead with a proposal to rework its loan and credit line while issuing $500 million in new senior debt, according to an SEC filing. The filing does not indicate that any other financing moves will be made. Moody's Investors Service (New York) has withdrawn ratings on the debt, which was rated B2, the agency says. Last week, Momentive announced preliminary fourth-quarter 2009 profits of $50 million to $60 million. Separately, local media in Albany, New York are reporting that the National Labor Relations Board (NLRB; Washington) has...

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