Two main business lines: epoxy, phenolic, and coatings resins and forest products resins. These tend to be very competitive, resulting in low margins that serve cyclical end markets such as construction, wind energy, furniture, automotive, and oil and gas. Volatility in key raw materials, such as phenol, methanol, and urea. Ownership by private equity company, Apollo Global Management LLC. Liquidity continues to be a key risk for the company, with sources expected to be less than 1.2x liquidity uses. Unsustainable leverage levels, with weighted-average projected debt to EBITDA of around 10x. The stable outlook on Hexion Inc. reflects S&P Global Ratings expectation that, despite some recent competitive pressures in the wind energy market, slight improvement in the company's global forest
