S&P assigns Olin notes 4

Standard & Poor's said it assigned recovery ratings to Olin Corp.'s unsecured notes, while leaving the issue-level ratings on this debt unchanged.

The issue-level ratings on the company's 6.75% unsecured notes due 2016 and 9.125% unsecured notes due 2011 remain at BB+, the same as the corporate credit rating, and the agency said it assigned a recovery rating of 4 to this debt.

The outlook is stable.

"The ratings on Olin reflect a below-investment-grade business profile, considerable cyclicality of earnings and exposure to the volatile commodity chemical cycle through its chlor-alkali operations," said S&P credit analyst Wesley E. Chinn.

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