Fitch assigns LyondellBasell BBB

Fitch Ratings said it assigned first-time, long-term issuer default ratings of BBB to LyondellBasell Industries NV and its issuing subsidiaries LyondellBasell Finance Co. BV, LyondellBasell International Finance BV, LyondellBasell International Finance II BV and LyondellBasell International Finance III, LLC. Fitch also assigned a BBB rating to Lyondell’s and its subsidiaries’ senior unsecured debt.

“The ratings reflect Lyondell’s significant scale and diversification, feedstock flexibility, consistently strong pre-dividend cash flow generation, balanced capital allocation plan that supports its investment-grade financial profile, and significant liquidity position offset by the company’s exposure to market price variability and elevated near-term leverage metrics,” Fitch said in a press release.

The outlook is stable.

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