Moody's reviews Sterling Chemicals

Moody's Investors Service said it placed Sterling Chemicals, Inc.'s B2 corporate family and probability-of-default ratings under review for downgrade.

The action is in view of the company's continuing operating losses, announced termination of the plasticizers production agreement with BASF at the end of 2010, questions concerning the agent lender of the asset backed revolver and recent management and board changes, according to the agency.

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