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S&P ups Westlake Chemical
Standard & Poor's said that it raised the corporate credit rating on Westlake Chemical Corp. and the company's senior debt rating to BBB- from BB+.
The outlook is stable.
S&P said it also assigned a BBB- rating to the company's proposed $154 million senior revenue bonds due 2035.
The upgrades reflect the company's strong operating performance and the expectation that leverage-related credit metrics will remain appropriate even if operating performance declines from elevated levels achieved in 2010, S&P said.
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