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. Albany, N.Y.-based Momentive is the world's second-largest silicones producer, and silicones represent about 90% of its revenues. The remainder comes from the sale of quartz, primarily for semiconductors. Silicones are used in a wide variety of applications, including construction, transportation, personal care, electronics, and agriculture. They are generally used as an additive, providing or enhancing attributes such as resistance (to heat, ultraviolet light, or chemicals), lubrication, adhesion, or viscosity. Capital-intensity, technological
