...June 10, 2019 - We expect Hexion Inc. to emerge from bankruptcy with a revised capital structure on or about July 1, 2019, after initially filing for Chapter 11 protection in April 2019. - We are raising our issuer credit rating on Hexion to 'B' from 'D' based on our assumption of the successful execution of the company's deleveraging and emergence plan. - We are also assigning a '##-' issue-level rating with a '1' recovery rating to the company's proposed term loan facility and a 'B-' issue-level rating with a '5' recovery rating to the proposed notes. - The stable outlook reflects our expectation for significantly reduced balance sheet debt related to the company's bankruptcy restructuring and a relatively unchanged business. NEW YORK (S&P Global Ratings) June 10, 2019--S&P Global Ratings today took the rating actions above. The upgrade of Hexion Inc. reflects our expectation for its emergence from bankruptcy with a revised capital structure. The emergence and associated financing is...
