-- We are lowering the corporate credit rating on U.S.-based silicone producer Momentive Performance Materials Inc. to 'SD' (selective default) and our senior unsecured and subordinated debt ratings on the company to 'D' following the completion of what we consider to be a distressed exchange offer. -- All other ratings on Momentive and its subsidiaries remain unchanged. NEW YORK (Standard&Poor's) June 15, 2009--Standard&Poor's Ratings Services today lowered its corporate credit rating on Momentive Performance Materials Inc. to 'SD' (selective default) from 'CC' and its senior unsecured and subordinated debt ratings on the company to 'D' from 'C' following the completion of what we consider to be a distressed exchange offer. In addition we have removed the
