Moody's ups Methanex view to positive

Moody's Investors Service said it affirmed the Ba1 ratings of Methanex Corp. and changed the outlook on the company's ratings to positive.

Ratings affirmed include the $250 million senior unsecured notes due 2005 at Ba1, the $200 million senior unsecured notes due 2012 at Ba1, the senior implied rating of Ba1 and the senior unsecured issuer rating of Ba1.

Moody's said the revision of the outlook to positive reflects the combination of an improving outlook for the company's intermediate-term financial performance due to elevated feedstock costs for producers without access to low-cost natural gas, the shut-down of additional industry capacity, and the recently renewed bank facility, which benefits bondholders.

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