S&P moves Ineos view to stable

S&P said it changed to stable from negative its outlook on three petrochemical companies owned by Ineos Ltd. (the Ineos group, not rated). The companies are Ineos Quattro Holdings Ltd., Ineos Group Holdings SA and Ineos Enterprises Holdings Ltd. The agency also affirmed the BB long-term issuer credit rating on these companies.

“The tight market conditions will continue to be supported by strong demand benefiting all the rated chemical businesses. The improvement from the trough seen in the second quarter of 2020 is evidenced by resilient results in 2020, and robust performance as of first quarter 2021,” the agency said in a press release.

The new outlook indicates that cash flow generation and credit quality are improving across the wider Ineos group in 2021, S&P said.

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