Moody's may up Kraton Polymers

Moody's Investors Service said it placed Kraton Polymers LLC corporate family rating of B2, probability of default rating of B2 and senior subordinated regular bond/debenture rating of Caa1 on review for possible upgrade. The company amended its secured credit facility to extend the maturity of the facility to May 2013, the agency said. Fitch said it assigned a B1 rating to the revolver and term loan of this amended facility and place the ratings under review for possible upgrade.

The upgrade review follows an initial public offering transaction with a significant amount of the proceeds to be used for debt reduction, Fitch said.

The agency said its review will focus on understanding the company's future strategies for improving its operational cash flow and its ongoing strategies for its capital and ownership structure.

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