Challenging market conditions, coupled with volatile oil markets and macroeconomic conditions, could affect the company's ability to refinance its revolving credit facility. We anticipate that liquidity will remain less than adequate over the next year. We are revising our outlook on Hexion to negative from stable and affirming all ratings, including the 'CCC+' corporate credit rating. We expect funds from operations (FFO) to debt to be in the low-single-digit range and debt to EBITDA to be above 10x. On Feb. 12, 2016, Standard&Poor's Ratings Services affirmed its 'CCC+' corporate credit rating on Ohio-based Hexion Inc. and revised the rating outlook to negative from stable. At the same time, we affirmed our 'CCC+' first-lien issue rating on the company's
