Research Update: Polymer Additives Holdings Inc. Upgraded To 'B-' From 'CCC+' On Improved Credit Metrics; Outlook Stable - S&P Global Ratings’ Credit Research

Research Update: Polymer Additives Holdings Inc. Upgraded To 'B-' From 'CCC+' On Improved Credit Metrics; Outlook Stable

Research Update: Polymer Additives Holdings Inc. Upgraded To 'B-' From 'CCC+' On Improved Credit Metrics; Outlook Stable - S&P Global Ratings’ Credit Research
Research Update: Polymer Additives Holdings Inc. Upgraded To 'B-' From 'CCC+' On Improved Credit Metrics; Outlook Stable
Published Sep 17, 2021
8 pages (3473 words) — Published Sep 17, 2021
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

The global economic recovery and strong demand across key end-markets has led to a significant improvement in Polymer Additives Holdings Inc.'s (doing business as Valtris) earnings and credit measures in the first half of 2021. As a result, we raised our issuer credit rating on the company to 'B-' from 'CCC+' In addition, we raised our issue-level ratings on the company's first-lien debt, including Valtris' term loan and revolving credit facility, to 'B-' from 'CCC+', in line with our issuer upgrade. The recovery ratings were revised to '3' from '4', indicating our expectation of meaningful (50% to 70%) recovery in the event of a payment default. The stable outlook on Valtris reflects our expectation that credit metrics will improve compared

  
Brief Excerpt:

...- The global economic recovery and strong demand across key end-markets has led to a significant improvement in Polymer Additives Holdings Inc.'s (doing business as Valtris) earnings and credit measures in the first half of 2021. - As a result, we raised our issuer credit rating on the company to 'B-' from '###+' - In addition, we raised our issue-level ratings on the company's first-lien debt, including Valtris' term loan and revolving credit facility, to 'B-' from '###+', in line with our issuer upgrade. The recovery ratings were revised to '3' from '4', indicating our expectation of meaningful (50% to 70%) recovery in the event of a payment default. - The stable outlook on Valtris reflects our expectation that credit metrics will improve compared to our previous forecast and will remain consistent with our current rating over the next 12 months....

  
Report Type:

Research Update

Issuer
Polymer Additives Holdings, Inc.
Sector
Global Issuers
Country
United States
Region
United States
Format:
PDF Adobe Acrobat
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Research Update: Polymer Additives Holdings Inc. Upgraded To 'B-' From 'CCC+' On Improved Credit Metrics; Outlook Stable" Sep 17, 2021. Alacra Store. May 13, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Polymer-Additives-Holdings-Inc-Upgraded-To-B-From-CCC-On-Improved-Credit-Metrics-Outlook-Stable-2723423>
  
APA:
S&P Global Ratings’ Credit Research. (). Research Update: Polymer Additives Holdings Inc. Upgraded To 'B-' From 'CCC+' On Improved Credit Metrics; Outlook Stable Sep 17, 2021. New York, NY: Alacra Store. Retrieved May 13, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Polymer-Additives-Holdings-Inc-Upgraded-To-B-From-CCC-On-Improved-Credit-Metrics-Outlook-Stable-2723423>
  
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