Celanese Corporation (NYSE: CE), a global chemical and specialty materials company, announced that S&P Global Ratings has raised its debt rating for Celanese US Holdings LLC (Celanese) to BBB from BBB-, assigning a stable outlook.
In the rationale for the upgrade, S&P Global stated, The upgrade reflects a considerable improvement in the company’s 2018 operating performance over 2017 levels, and our expectation that cash flow realization will stay high throughout 2019 and 2020.
S&P Global continued, The stable outlook reflects our expectation that [Celaneses] 2018 improvement in operating performance and credit metrics is sustainable.
The full report is available to subscribers here: https://www.standardandpoors.com/en_US/web/guest/article/-/view/type/HTML/id/2196261
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Celanese Corporation is a global technology leader in the production of differentiated chemistry solutions and specialty materials used in most major industries and consumer applications. Our businesses use the full breadth of Celanese’s global chemistry, technology and commercial expertise to create value for our customers, employees, shareholders and the corporation. As we partner with our customers to solve their most critical business needs, we strive to make a positive impact on our communities and the world through The Celanese Foundation. Based in Dallas, Celanese employs approximately 7,700 employees worldwide and had 2018 net sales of $7.2 billion. For more information about Celanese Corporation and its product offerings, visit www.celanese.com or our blog at www.celaneseblog.com.
This release may contain forward-looking statements, which include information concerning the companys plans, objectives, goals, strategies, future revenues or performance, capital expenditures and other information that is not historical information. When used in this release, the words outlook, forecast, estimates, expects, anticipates, projects, plans, intends, believes, and variations of such words or similar expressions are intended to identify forward-looking statements. All forward-looking statements are based upon current expectations and beliefs and various assumptions. There can be no assurance that the company or its customers will realize these benefits or that these expectations will prove correct. There are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements contained in this release. Numerous factors, many of which are beyond the companys control, could cause actual results to differ materially from those expressed as forward-looking statements. Other risk factors include those that are discussed in the companys filings with the Securities and Exchange Commission. Any forward-looking statement speaks only as of the date on which it is made, and the company undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date on which it is made or to reflect the occurrence of anticipated or unanticipated events or circumstances.
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