The rating on silicones and quartz producer Momentive Performance Materials Inc. reflects its satisfactory business risk profile as a leading global silicones producer, tempered by its very high debt leverage since Apollo Management's December 2006 acquisition of 90% of the company from General Electric Co. (GE) for $3.9 billion. Momentive, which recently moved its headquarters to Albany, N.Y., is the world's second-largest silicone producer, representing about 90% of its revenues. The remainder of revenues comes from the sale of quartz, primarily for semiconductors. The recent modest-size acquisition of certain assets of Osram Sylvania Products Inc. will augment Momentive's semiconductor and lighting quartz products businesses. Silicones are used in a wide variety of applications, including construction, transportation, personal care, electronics, and
