LONDON (Standard&Poor's) Sept. 20, 2013--Standard&Poor's Ratings Services said today that it assigned its 'BB+' issue rating to the proposed $250 million senior unsecured notes to be issued by France-based chemicals producer SPCM S.A. (BB+/Stable/--). At the same time, we assigned a recovery rating of '3' to the proposed notes, indicating our expectation of meaningful (50%-70%) recovery for creditors in the event of a payment default. We understand that SPCM will use the proceeds from the proposed issuance to repay in full its existing senior secured bank facilities, some local facility debt, and for general corporate purposes. In addition, we affirmed our 'BB+' issue rating on SPCM's existing senior unsecured notes. The recovery rating on these notes
