S&P gives LYB International notes BBB

Standard & Poor's said it assigned its BBB issue-level rating to LYB International Finance BV's proposed offering of $1 billion of 30-year senior unsecured notes.

LYB International is a wholly owned subsidiary of LyondellBasell Industries NV, which will guarantee the notes.

The company plans to use the proceeds for general corporate purposes, including repurchases of LyondellBasell's ordinary shares.

The existing ratings on LyondellBasell, including the BBB+ corporate credit rating and the BBB ratings on its senior unsecured debt and that of its subsidiaries, are unchanged.

The outlook is stable.

S&P said its ratings on LyondellBasell and subsidiaries reflect what it considers to be its "satisfactory" business risk profile as a leading global commodity petrochemical producer and a "modest" financial risk profile.

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