Moody's rates Arkema notes Baa3

Moody's Investors Service said it changed the outlook on Arkema's Baa3 ratings to positive from stable and assigned Baa3 rating to the company's €230 million 3.85% notes due 2020.

The agency said the Baa3 rating reflects its pari pasu ranking with the existing unsubordinated unsecured obligations of the issuer.

The positive outlook on the Baa3 ratings reflects the improvement in the business profile of the company resulting from the ongoing repositioning of the portfolio, including acquisitions of specialty acrylic resins from Total in 2011 and polyamide operation in China, as well as the pending disposal of the commoditized PVC operations in 2012, the agency said.

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