S&P cuts Valhi

Standard & Poor's said it lowered its corporate credit rating on Valhi Inc. one notch to B+ and removed the rating from CreditWatch where it had been placed with negative implications on Feb. 23, 2006.

The outlook is stable.

At the same time, S&P said it affirmed its rating on Kronos International Inc.'s existing €400 million senior secured notes issue due 2013 and assigned a recovery rating.

The notes rating was removed from CreditWatch and affirmed at B and a 3 recovery rating was assigned, the agency said.

"The downgrade of the corporate credit rating reflects ongoing concerns related to the pending lead pigment litigation in Rhode Island," said S&P credit analyst David Bird.

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