Fitch ups Kronos

Fitch Ratings said it upgraded Kronos International, Inc.'s issuer default rating to B- from CCC, senior secured revolving credit facility to BB- with recovery rating of RR1 from B+ with recovery rating of RR1 and senior secured notes to B- with recovery rating of RR4 from CCC with a recovery rating of RR4.

The outlook was revised to stable from negative.

The ratings reflect high financial leverage and solid market position in the titanium dioxide industry, Fitch said.

The ratings also reflect the early stages of a recovery in the TiO2 industry and expectations that earnings over the next 24 months will remain below average, the agency said.

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