S&P raises Westlake, debt to BBB+

Standard & Poor's said it raised its corporate credit rating on Westlake Chemical Corp. to BBB+ from BBB.

The outlook is stable.

At the same time, the agency raised its rating on the company's senior unsecured debt to BBB+ from BBB.

"The upgrade reflects strength in recent operating performance which we believe should continue over the next several years and our expectation that the company will be able to maintain credit measures that we consider appropriate for a ‘modest’ financial risk profile assessment," S&P credit analyst Daniel Krauss said in a news release.

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