Home Credit Ratings and Research Residential Mortgage-Backed Securities S&P Global Ratings’ Credit Research Hexion Inc.

Bulletin: Hexion Inc. Ratings Unaffected By $75 Million First-Priority Senior Secured Debt Add-On

Published May 09, 2017

2 pages (881 words) — Published May 09, 2017

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Abstract:

NEW YORK (S&P Global Ratings) May 9, 2017--S&P Global Ratings said today that its ratings and outlook on Columbus, Ohio-based Hexion Inc. (CCC+/Stable/--) are not affected by the company's $75 million add-on to its first-priority senior secured notes due 2022. The unaffected ratings include the 'CCC+' issue-level rating. The recovery rating remains at '3', indicating our expectation for meaningful (50%-70%; rounded estimate: 50%) recovery in the event of a payment default. The company plans to use proceeds from the add-on for general corporate purposes.

Brief Excerpt:

...NEW YORK (S&P Global Ratings) May 9, 2017--S&P Global Ratings said today that its ratings and outlook on Columbus, Ohio-based Hexion Inc. (###+/Stable/--) are not affected by the company's $75 million add-on to its first-priority senior secured notes due 2022. The unaffected ratings include the '###+' issue-level rating. The recovery rating remains at '3', indicating our expectation for meaningful (50%-70%; rounded estimate: 50%) recovery in the event of a payment default. The company plans to use proceeds from the add-on for general corporate purposes. Only a rating committee may determine a rating action and this report does not constitute a rating action....

Report Type:

Bulletin

Ticker

HXN

Issuer

Hexion Inc.

GICS

Diversified Chemicals (15101020)

Sector

Global Issuers, Structured Finance

Country

United States

Region

United States

Format:

PDF

Summary: Hexion Inc. – 2018/07/12 – US$ 225.00

Hexion Inc. Ratings Affirmed; Outlook Revised To Negative From Stable On Approaching $2.5 Billion Debt Maturity – 2018/11/14 – US$ 150.00

Research Update: Hexion Inc. Ratings Affirmed; Outlook Revised To Negative From Stable On Approaching $2.5 Billion Debt Maturity – 2018/11/14 – US$ 225.00

Hexion Inc. Downgraded To 'CCC' On Increased Liquidity Risk; Outlook Negative – 2019/01/17 – US$ 150.00

Research Update: Hexion Inc. Downgraded To 'CCC' On Increased Liquidity Risk; Outlook Negative – 2019/01/17 – US$ 225.00

Hexion Inc. Outlook Revised To Stable From Negative; Credit And Issue Ratings Affirmed; Recovery Ratings Unchanged – 2017/02/21 – US$ 150.00

Research Update: Hexion Inc. Outlook Revised To Stable From Negative; Credit And Issue Ratings Affirmed; Recovery Ratings Unchanged – 2017/02/21 – US$ 225.00

Hexion Inc.'s Proposed $200 Million 1.5-Lien Senior Secured Notes Rated 'CCC' (Recovery Rating: '5') – 2017/01/25 – US$ 150.00

Hexion Inc.'s Proposed $460 Million First-Lien Senior Secured Notes Rated 'CCC+' (Recovery Rating: '3') – 2017/01/19 – US$ 150.00

Hexion Inc. Outlook Revised To Negative From Stable On Refinance Risk; Credit And Issue-Level Ratings Affirmed – 2016/02/12 – US$ 150.00

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S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

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Cite this Report


MLA:	S&P Global Ratings’ Credit Research. "Bulletin: Hexion Inc. Ratings Unaffected By $75 Million First-Priority Senior Secured Debt Add-On" May 09, 2017. Alacra Store. Nov 07, 2026. <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-Hexion-Inc-Ratings-Unaffected-By-75-Million-First-Priority-Senior-Secured-Debt-Add-On-1845576>

APA:	S&P Global Ratings’ Credit Research. (). Bulletin: Hexion Inc. Ratings Unaffected By $75 Million First-Priority Senior Secured Debt Add-On May 09, 2017. New York, NY: Alacra Store. Retrieved Nov 07, 2026 from <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-Hexion-Inc-Ratings-Unaffected-By-75-Million-First-Priority-Senior-Secured-Debt-Add-On-1845576>

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