S&P ups Millennium Inorganic to positive

Standard & Poor's said it revised the outlook on Millennium Inorganic Chemicals, Inc. to positive from stable and affirmed the B+ corporate credit rating.

The outlook revision reflects the expectation that improved operating results could allow the company to enhance credit metrics in the near term, the agency said. Management and Millennium's owner National Titanium Dioxide Co. Ltd. will likely maintain financial policies to sustain these improved financial measures, which could support modestly higher ratings.

The ratings on Millennium Inorganic Chemicals reflect the company's limited focus on cyclical markets subject to commodity product cycles and its aggressive financial profile, the agency added.

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