Celanese Corporation Announces Ratings Upgrade from Standard & Poor’s
Celanese Corporation (NYSE: CE), a global, hybrid chemical company, today announced that Standard & Poor’s Rating Services raised the corporate credit rating on Celanese US Holdings LLC, a subsidiary of Celanese Corporation, from ‘BB-‘ to ‘BB’ with a positive outlook.
In upgrading the company’s ratings, Standard & Poor’s cited expected higher earnings, continued favorable industry prospects and strong cash generation. The global credit rating agency also raised the company’s senior secured bank loan rating from ‘BB’ to ‘BB+’ and affirmed its ‘2’ recovery rating.
As a global leader in the chemicals industry, Celanese Corporation makes products essential to everyday living. Our products, found in consumer and industrial applications, are manufactured in North America, Europe and Asia. Net sales totaled $6.7 billion in 2006, with over 60% generated outside of North America. Known for operational excellence and execution of its business strategies, Celanese delivers value to customers around the globe with innovations and best-in-class technologies. Based in Dallas, Texas, the company employs approximately 8,900 employees worldwide. For more information on Celanese Corporation, please visit the company’s website at www.celanese.com.
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