Moody's ups Cristal Inorganic view to stable

Moody's Investors Service said it changed the outlook for Cristal Inorganic Chemicals Ltd. to stable from negative and affirmed its B3 corporate family rating, along with its $100 million first-lien revolving credit facility due 2012 at B1 (with LGD 2, 29% from LGD 2, 27%), $550 million first-lien term loan due 2014 at B1 (with LGD 2, 29% from LGD 2, 27%) and $230 million second-lien term loan due 2014 at Caa1 (with LGD 5, 73% from LGD 4, 68%.

The stable outlook is a result of improved operating performance and better titanium dioxide industry fundamentals, the agency said.

Moody's said the operating performance and credit metrics are expected to benefit from the current tight titanium dioxide market supply conditions.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.