Moody’s could lift Kerling

Moody's Investors Service said it placed Kerling plc’s Caa1 corporate family rating, Caa1-PD probability of default rating and Caa1 senior secured notes rating under review for upgrade.

The action follows the European Commission (EC) approval of the formation of the Inovyn joint venture between Kerling's ultimate parent company, Ineos AG (unrated), and Solvay SA (Baa2 stable). Kerling on the same day announced that the joint venture partners intended to form Inovyn, which will be the largest player in European chlorvinyls, on July 1.

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