Fitch ups Omnova loan

Fitch Ratings said it affirmed the following credit ratings for Omnova Solutions Inc.: issuer default rating (IDR) at B+ and senior secured notes at B+ with a recovery rating of RR4.

In addition, the senior secured credit facility has been upgraded to BB+/RR1 from BB-/RR3.

The outlook has been revised to stable from negative.

These rating actions affect $165 million in public securities and the company's $100 million senior secured credit facility, the agency said.

Fitch noted Omnova's ratings continue to be supported by its small company size and good market position in styrene butadiene latex, offset by weak but improving operating margins and limited free cash flow.

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