Silicone producer Momentive has canceled plans to amend and extend its bank credit facility and issue new notes. As a result, we are affirming our ratings on Momentive, including the 'CCC+' corporate credit rating, and removing them from CreditWatch. The outlook is stable. The ratings reflect the company's continuing very high leverage and need to refinance some of its debt by late 2012. The stable outlook points to the trend of significant recent earnings improvement and the easing of our cash flow and liquidity concerns. On Dec. 21, 2009, Standard&Poor's Ratings Services affirmed its ratings on Albany, N.Y.-based Momentive Performance Materials Inc. We removed the ratings from CreditWatch where we had placed them with positive implications. The outlook
