Hexion Inc.'s $315 Million Senior Secured Notes Rated 'CCC+' (Recovery Rating: '3') - S&P Global Ratings’ Credit Research

Hexion Inc.'s $315 Million Senior Secured Notes Rated 'CCC+' (Recovery Rating: '3')

Hexion Inc.'s $315 Million Senior Secured Notes Rated 'CCC+' (Recovery Rating: '3') - S&P Global Ratings’ Credit Research
Hexion Inc.'s $315 Million Senior Secured Notes Rated 'CCC+' (Recovery Rating: '3')
Published Mar 31, 2015
3 pages (1078 words) — Published Mar 31, 2015
Price US$ 150.00  |  Buy this Report Now

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Abstract:

NEW YORK (Standard&Poor's) March 31, 2015--Standard&Poor's Ratings Services today assigned its 'CCC+' issue rating and '3' recovery rating to Columbus, Ohio-based global manufacturer and marketer of thermoset resins, Hexion Inc.'s $315 million senior secured notes due 2020. Hexion will use note proceeds to redeem outstanding debentures and for general corporate purposes. All existing ratings on Hexion, including the 'CCC+' corporate credit rating, are unchanged. The outlook is negative. The '3' recovery indicates meaningful (the lower end of the 50% to 70% range) recovery in a default scenario. The ratings on Hexion reflect our assessments of the company's "weak" business profile and "highly leveraged" financial risk profile. (For the latest corporate credit rating research update, see Standard

  
Brief Excerpt:

...NEW YORK (Standard & Poor's) March 31, 2015--Standard & Poor's Ratings Services today assigned its '###+' issue rating and '3' recovery rating to Columbus, Ohio-based global manufacturer and marketer of thermoset resins, Hexion Inc.'s $315 million senior secured notes due 2020. Hexion will use note proceeds to redeem outstanding debentures and for general corporate purposes. All existing ratings on Hexion, including the '###+' corporate credit rating, are unchanged. The outlook is negative. The '3' recovery indicates meaningful (the lower end of the 50% to 70% range) recovery in a default scenario. The ratings on Hexion reflect our assessments of the company's "weak" business profile and "highly leveraged" financial risk profile. (For the latest corporate credit rating research update, see Standard & Poor's "Momentive Specialty Chemicals Inc. Corporate Credit Rating Lowered to `###+' From `B-'; Outlook Negative", published Oct. 1, 2014, on RatingsDirect). RELATED CRITERIA AND RESEARCH Related...

  
Report Type:

Ratings Action

Ticker
HXN
Issuer
Hexion Inc.
GICS
Diversified Chemicals (15101020)
Sector
Global Issuers, Structured Finance
Country
United States
Region
United States
Format:
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MLA:
S&P Global Ratings’ Credit Research. "Hexion Inc.'s $315 Million Senior Secured Notes Rated 'CCC+' (Recovery Rating: '3')" Mar 31, 2015. Alacra Store. Nov 07, 2026. <http://www.alacrastore.com/s-and-p-credit-research/Hexion-Inc-s-315-Million-Senior-Secured-Notes-Rated-CCC-Recovery-Rating-3-1391718>
  
APA:
S&P Global Ratings’ Credit Research. (). Hexion Inc.'s $315 Million Senior Secured Notes Rated 'CCC+' (Recovery Rating: '3') Mar 31, 2015. New York, NY: Alacra Store. Retrieved Nov 07, 2026 from <http://www.alacrastore.com/s-and-p-credit-research/Hexion-Inc-s-315-Million-Senior-Secured-Notes-Rated-CCC-Recovery-Rating-3-1391718>
  
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