U.S.-based silicone and quartz producer Momentive Performance Materials Inc. emerged from bankruptcy Oct. 24, 2014. We are assigning a 'B-' corporate credit rating and various debt ratings to the reorganized company. The stable outlook indicates that the company's reduced debt burden should result in leverage and liquidity supportive of the ratings. On Dec. 19, 2014, Standard&Poor's Ratings Services assigned a 'B-' corporate credit rating to Momentive Performance Materials Inc. (MPM). The outlook is stable. At the same time, we assigned a 'B' issue rating and '2' recovery rating to the company's $1.1 billion 3.88% first-priority senior secured notes due 2021. In addition, we assigned a 'B-' issue rating and '4' recovery rating to the company's $250 million 4.69%
