Fitch moves Westlake outlook to stable

Fitch Ratings said it changed the outlook to stable from negative and affirmed Westlake Chemical Corp.’s BBB issuer rating.

“Fitch expects a cyclical recovery in the polyethylene chain will result in total debt/EBITDA approaching 2x by mid-2022 following peak leverage of around 3x at YE 2020. We expect the company to maintain significant deleveraging capacity through the forecast period,” the agency said in a press release.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.