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S&P gives Westlake notes BBB
S&P said it gave its BBB issue-level ratings to Westlake Chemical Corp.'s planned senior unsecured notes.
“Our BBB issuer credit rating, stable outlook, and existing BBB senior unsecured issue-level ratings are unchanged,” S&P said in a press release.
The proceeds are expected to be used to fund a portion of the purchase price of Westlake’s pending acquisitions of a portion of Boral Ltd.'s North American building products businesses for $2.15 billion in cash, Lasco Fittings Inc. from Aalberts U.S. Holding Corp. for $252.5 million in cash and DX Acquisition Corp. for a purchase price of $170 million in cash and to pay related fees and expenses.
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