S&P revises Ashland view to negative

Standard & Poor's said it affirmed its BB corporate credit rating on Ashland Inc. and revised the rating outlook to negative from stable.

At the same time, the agency affirmed all of its debt ratings on the company.

"The outlook revision follows Ashland's announcement that it intends to spin-off its Valvoline business into a separate public company," S&P credit analyst Daniel Krauss said in a news release.

"We believe that the Valvoline business provided Ashland with a fair degree of diversity, scale, and solid profitability."

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