TEXT-S&P: Solutia ratings withdrawn after acquisition by Eastman Chemical
Aug 10 - Rating Action On Aug. 10, 2012, Standard & Poor's Ratings Services withdrew its ratings on Solutia Inc., including its corporate credit rating. The withdrawals follow Eastman Chemical Co.'s (BBB/Stable/A-2) acquisition of Solutia, as well as the company's repayment of all its rated debt. Rationale We have withdrawn our issue ratings and our corporate credit rating on Solutia Inc. upon the completion of Eastman Chemical Co.'s acquisition of the company. Solutia has paid down all of its rated debt. Related Criteria And Research -- 2008 Corporate Criteria: Analytical Methodology, April 15, 2008 Ratings List Ratings Withdrawn To From Solutia Inc. Corporate credit rating NR/NR BB/Watch Pos/NR To From Solutia Inc. Senior secured NR BB+/Watch Pos NR 2 Senior unsecured NR BB-/Watch Pos NR 5 Complete ratings information is available to subscribers of RatingsDirect on the Global Credit Portal at www.globalcreditportal.com. All ratings affected by this rating action can be found on Standard & Poor's public Web site at www.standardandpoors.com. Use the Ratings search box located in the left column.