S&P upgrades Olin

S&P said it raised its corporate credit rating on Olin Corp. to BB+ from BB. The outlook is stable.

S&P also raised the issue-level rating on the company's senior unsecured debt to BB+ from BB. The recovery rating on this debt remains 3, indicating an expectation of meaningful (50%-70%; rounded estimate: 50%) recovery in the event of a payment default.

“The upgrade reflects our expectation that Olin's 2018 operating performance will be stronger than our previous forecast, given the favorable industry dynamics for North American producers in the global chlor-alkali industry,” S&P said in a news release.

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