Moodys Reviews Debt Ratings In Celanese-Hoechst Deal
Debt ratings of Celanese Corp. and American Hoechst Corp. remain under review by Moodys Investors Service pending the outcome of a Federal Trade Commission challenge to the proposed $2.8 billion acquisition of Celanese by American Hoechst.
Moodys said that approximately $370 million of debt is involved in the review. This includes senior and subordinated long-term ratings of Celanese Corp. and the rating on pollution control revenue bonds of American Hoechst.
Moody's added that the Prime-1 rating of Hoechst Capital Corp. for commercial paper, guaranteed by the German parent of ...