S&P boosts Omnova

Standard & Poor's said it raised its ratings on Omnova Solutions Inc.

The corporate credit rating was raised to B+ from B, the agency said.

The outlook is stable.

S&P noted that the upgrade acknowledges Omnova's improving operating performance, the strengthening of the financial profile and the potential for additional debt reduction following the September sale of the GenFlex Building Products business to Firestone Building Products Co. for $40 million.

The ratings reflect Omnova's vulnerable business position as a niche provider of emulsion polymers, specialty chemicals and decorative products to mature and highly competitive markets, the agency added.

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