Research Update: Swiss Chemicals Company Clariant Outlook Revised To Stable From Positive On Merger Cancellation; 'BBB-' Rating Affirmed - S&P Global Ratings’ Credit Research

Research Update: Swiss Chemicals Company Clariant Outlook Revised To Stable From Positive On Merger Cancellation; 'BBB-' Rating Affirmed

Research Update: Swiss Chemicals Company Clariant Outlook Revised To Stable From Positive On Merger Cancellation; 'BBB-' Rating Affirmed - S&P Global Ratings’ Credit Research
Research Update: Swiss Chemicals Company Clariant Outlook Revised To Stable From Positive On Merger Cancellation; 'BBB-' Rating Affirmed
Published Nov 01, 2017
7 pages (2365 words) — Published Nov 01, 2017
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

On Oct. 27, 2017, Clariant and Huntsman announced that they have jointly decided to cancel their planned merger due to the increased uncertainty around securing the required approval of two-thirds of Clariant's shareholders. Subsequently, on Oct. 31, 2017, Clariant announced healthy results for the third quarter to Sept. 30, 2017, with sales supported by the Catalysis and Care Chemicals divisions. We are therefore revising the outlook on Clariant to stable from positive, and affirming our 'BBB-' long-term and 'A-3' short-term corporate credit ratings on the company. The stable outlook reflects our view that Clariant will sustain reported EBITDA (after exceptional items) in 2017-2018 of about Swiss franc (CHF) 810 million–CHF850 million and that its cash flow generation will support ratios

  
Brief Excerpt:

...On Oct. 27, 2017, Clariant and Huntsman announced that they have jointly decided to cancel their planned merger due to the increased uncertainty around securing the required approval of two-thirds of Clariant's shareholders....

  
Report Type:

Research Update

Ticker
CLN@VX
Issuer
Clariant AG
GICS
Specialty Chemicals (15101050)
Sector
Global Issuers
Country
Switzerland
Region
Europe, Middle East, Africa
Format:
PDF Adobe Acrobat
Buy Now

More from S&P Global Ratings’ Credit Research

S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

About the Author


Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Research Update: Swiss Chemicals Company Clariant Outlook Revised To Stable From Positive On Merger Cancellation; 'BBB-' Rating Affirmed" Nov 01, 2017. Alacra Store. Nov 07, 2026. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Swiss-Chemicals-Company-Clariant-Outlook-Revised-To-Stable-From-Positive-On-Merger-Cancellation-BBB-Rating-Affirmed-1941147>
  
APA:
S&P Global Ratings’ Credit Research. (). Research Update: Swiss Chemicals Company Clariant Outlook Revised To Stable From Positive On Merger Cancellation; 'BBB-' Rating Affirmed Nov 01, 2017. New York, NY: Alacra Store. Retrieved Nov 07, 2026 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Swiss-Chemicals-Company-Clariant-Outlook-Revised-To-Stable-From-Positive-On-Merger-Cancellation-BBB-Rating-Affirmed-1941147>
  
US$ 225.00
$  £  €
Have a Question?

Any questions about the report you're considering? Our Customer Service Team can help! Or visit our FAQs.

More Research

Search all our Credit Research from one place.