Moody's boosts Momentive

Moody's Investors Service said it boosted Momentive Performance Materials Inc.'s corporate family rating to B2 from B3, probability of default rating to B2-PD from B3-PD and first-lien senior secured term loan facilities rating to B1 from B2.

"The rating upgrade reflects Momentive's improved credit metrics and continued earnings momentum from strong market demand, business transformation and synergies with KCC. We also expect KCC, Momentive's majority owner, to remain prudent in its oversight and dealing with Momentive's fiscal matters and financial policy. Momentive's B2 corporate family rating is reflective of its business scale, strong market position in the silicone industry and globally diversified operations," said Jiming Zou, Moody's lead analyst for Momentive, in a press release.

The outlook is stable.

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