S&P gives OCI facilities B+

S&P said it affirmed its B- corporate credit rating on OCI Beaumont LLC and revised the outlook to positive from stable.

The agency also assigned a B- corporate credit rating and positive outlook to parent company OCI Partners LP and assigned a B+ issue-level rating to its proposed first-lien term loan and revolving credit facility.

The recovery rating is 1, indicating an expectation of very high recovery (90%-100%; rounded estimate: 95%) in the event of a payment default.

The agency revised the stand-alone credit assessment of OCI Beaumont to b+ from b- based on an upward revision of the assessment of the company's business and financial risk.

S&P said it anticipates that improved average product prices and strong volumes in 2018 will strengthen the operating performance of OCI Beaumont relative to 2017, resulting in improved credit metrics.

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