Moody's moves Momentive view to stable

Moody's Investors Service said it changed Momentive Performance Materials Inc.'s outlook to stable from negative.

"The change to stable outlook reflects the expected improvement in Momentive's credit metrics in 2021 from 2020 lows thanks to earnings contribution from KCC's silicone business, good demand from many end markets, as well as Momentive's business transformation to improve its cost base and business competitiveness," said Jiming Zou, Moody's lead analyst for Momentive, in a press release.

The agency said it sees business conditions remaining favorable for the rest of 2021, with strong pent-up demand from automotive, construction, consumer and electronics industries.

Concurrently, Moody’s affirmed Momentive's B3 corporate family rating, B3-PD probability of default rating and B2 rating on its first-lien senior secured term loan facilities.

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