S&P: Omnova off watch, affirmed

Standard & Poor's said it affirmed its B corporate credit and senior secured debt ratings on Omnova Solutions Inc.

and removed the ratings from CreditWatch with negative implications, where they were placed Feb. 14.

The outlook is negative.

The ratings affirmation follows S&P's review of Omnova's second-quarter results, which indicate that operating results appear to be stabilizing, the agency said.

The ratings reflect the company's fair market positions and decent product diversification, offset by competitive markets, exposure to volatile raw-material costs and a highly leveraged financial profile, S&P said.

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