Moody’s Rating Upgrade for Orion Engineered Carbons
LUXEMBOURG--(BUSINESS WIRE)--Nov 20, 2018--Orion Engineered Carbons S.A. (NYSE: OEC), a worldwide supplier of specialty and high-performance Carbon Black, today announced that Moody’s upgraded its corporate family rating (CFR) to Ba2 from Ba3 on November 15, 2018. Concurrently Moody’s upgraded Orion’s probability of default rating (PDR) to Ba2-PD from Ba3-PD. Moody’s has also upgraded to Ba2 from Ba3 the rating of the term loan facilities and of the €175 million multi-currency revolving credit facility (‘RCF’) borrowed by Orion Engineered Carbons GmbH and OEC Finance US LLC, two subsidiaries of Orion. The outlook on all such ratings is stable, according to Moody’s.
Orion is a worldwide supplier of Carbon Black. We produce a broad range of Carbon Blacks that include high-performance Specialty Gas Blacks, Furnace Blacks, Lamp Blacks, Thermal Blacks and other Carbon Blacks that tint, colorize and enhance the performance of polymers, plastics, paints and coatings, inks and toners, textile fibers, adhesives and sealants, tires, and mechanical rubber goods such as automotive belts and hoses. Orion runs 13 global production sites and four Applied Technology Centers. The group has approximately 1,421 employees worldwide. For more information please visit Orion’s website www.orioncarbons.com.
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CONTACT: Orion Engineered Carbons S.A.
Diana Downey, +1 832-589-2285
KEYWORD: UNITED STATES LUXEMBOURG EUROPE NORTH AMERICA TEXAS
INDUSTRY KEYWORD: MANUFACTURING AUTOMOTIVE MANUFACTURING CHEMICALS/PLASTICS PACKAGING TEXTILES OTHER MANUFACTURING
SOURCE: Orion Engineered Carbons S.A.
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PUB: 11/20/2018 04:30 PM/DISC: 11/20/2018 04:30 PM