Moody's rates LyondellBasell bonds Baa2

Moody's Investors Service assigned a Baa2 rating to $500 million of senior unsecured green bonds due 2033 to be issued by LYB International Finance III, LLC, a wholly owned subsidiary of LyondellBasell Industries NV's (LYB). These bonds are supported by a guarantee from LYB.

The agency lowered LYB’s ratings to Baa2 on Oct. 5, 2020.

The proceeds will be used to finance or refinance eligible green projects but may be used temporarily for general corporate purposes.

"Given LyondellBasell's announcements on circular and low carbon solution projects over the past 18 months, the company should have no difficulty allocating the proceeds from this offering," stated John Rogers, a Moody’s senior vice president and lead analyst on LyondellBasell, in a press release.

The outlook for LYB and its subsidiaries is stable.

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