Moody's rates Huntsman notes B3

Moody's Investors Service said it assigned a B3 (LGD 6, 91%) rating to Huntsman International LLC's proposed new $350 million senior unsecured subordinated note issue.

The proceeds will be used to pay down a portion of its existing senior unsecured subordinated debt and general corporate purposes.

The outlook is stable.

The rating reflects the company's strong liquidity profile evidenced, in part, by the lack of sizeable near term debt maturities until 2013, Moody's said.

The ratings consider its strong competitive position in key businesses and significant competitive barriers, including process know-how and the benefits of world scale production capabilities, the agency said.

The ratings are tempered by high leverage and exposure to rising prices in some feed stocks, Moody's said, and possible future weakness in many key end markets.

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