S&P ups Omnova view to positive

Standard & Poor's said it revised its outlook on Omnova Solutions Inc. to positive from negative and affirmed all ratings on the company, including the B corporate credit rating.

S&P noted the outlook revision reflects the strengthening of the financial profile as pricing initiatives in the performance chemicals business and continued focus on cost reduction allowed Omnova to offset higher raw-material costs.

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, the agency added.

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