S&P affirms Kraton

Standard & Poor's said it affirmed the BB- corporate credit rating on Kraton Performance Polymers Inc.

The agency also said it affirmed the company's B+ senior unsecured debt rating on the 6.75% senior unsecured notes due 2019 issued jointly by subsidiaries Kraton Polymers LLC and Kraton Polymers Capital Corp.

The 5 recovery rating on these notes remains unchanged at 5, indicating 10% to 30% expected recovery for lenders in a default.

The actions follow news that the issuer is planning a $100 million add-on to the notes, bringing the aggregate total to $350 million, S&P said.

The ratings reflect an expectation that Kraton will be able to maintain credit metrics appropriate for the ratings despite the increase in debt associated with a Taiwan joint venture, S&P said.

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