S&P rates Albemarle notes BBB

S&P said it assigned a BBB ratings to Albemarle Corp.’s planned $1.6 billion offering of senior unsecured notes to be sold in three tranches.

Proceeds will be used to refinance debt, including that used to fund the recently-closed acquisition of 60% stake in Mineral Resources Ltd.’s Wodgina joint venture.

S&P affirmed the BBB ratings on Albemarle.

The outlook is stable.

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