Moody's: Hexion notes Ba3

Moody's Investors Service said it assigned a Ba3 rating to the guaranteed senior secured first-lien notes due 2020 of Hexion U.S. Finance Corp., a wholly owned subsidiary of Momentive Specialty Chemicals Inc.

Proceeds from the notes will repay amounts outstanding under Momentive's term loan B maturing in May 2013.

Moody's also assigned Ba3 ratings to Momentive's amended and extended revolving credit facility due 2014 and term loan B due 2017.

As part of this actions Moody's also affirmed all of Momentive's other ratings and moved the outlook to stable from positive due to the company's weak performance in the fourth quarter of 2011 and the expectation for a slow recovery in financial performance in 2012.

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