Fitch rates Westlake notes BBB-

Fitch Ratings said it assigned a BBB- rating to Westlake Chemical Corp.'s proposed $250 million 10-year notes.

The company's issuer default rating is BBB-.

The outlook is stable.

Proceeds will be used to help fund the company's redemption of its $250 million 6 5/8% notes due 2016

The ratings reflect the company's strong liquidity, conservative capital structure and solid free cash flow generation, the agency said.

Westlake's total debt to 12 months EBITDA as of March 31 was 1.3 times.

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