S&P ups Methanex outlook to stable

Standard & Poor's said it revised its outlook on Methanex Corp. to stable from negative.

At the same time, the agency said it affirmed its ratings on the company, including its BBB- long-term corporate credit rating.

"We base the outlook revision on its expectation that, with its Egypt methanol facility coming online, Methanex's cash flows and leverage will improve markedly in 2011 and be closer to its target of 2.5x," said credit analyst Jatinder Mall.

The ratings on Methanex reflect what S&P said it considers the company's position as a global leader in the production and marketing of methanol, its low-cost production facilities and history of good free cash generation.

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