Moody’s: Momentive Performance unchanged

Moody's Investors Service said that Momentive Performance Materials Inc.'s B2 corporate family rating with a stable outlook is unchanged following the announcement that KCC Corp., SJL Partners LLC and Wonik QnC Corp. entered into a definitive agreement to acquire MPM Holdings Inc. for about $3.1 billion, including the assumption of net debt, pension and OPEB liabilities.

The transaction will be financed through a combination of cash and new debt that will be put in place at closing.

The agency said it will likely withdraw the ratings on Momentive's existing senior secured notes, if they are prepaid as a result of the acquisition.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.