Fitch: Lyondell, Equistar up to positive

Fitch Ratings affirmed Lyondell Chemical Co.'s senior secured credit facility rating at B+, Lyondell's senior secured notes at B+ and Lyondell's senior subordinated notes at B-.

Fitch also affirmed the B+ rating on Equistar Chemicals LP's senior secured credit facility and the B- rating on Equistar's senior unsecured notes.

The outlook has been revised to positive from stable for both Lyondell and Equistar.

At the same time, Fitch affirmed Millennium Chemicals Inc.'s convertible senior unsecured debentures rating at B+, as well as Millennium America Inc.'s senior secured credit facility rating at BB- and its senior unsecured notes at B+. The outlook is stable.

Fitch said the outlook for Lyondell and Equistar reflects the improvement in operating earnings and strong margin expansion for olefins and polyolefins businesses along with a more moderate margin increase in propylene and propylene related products.

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