Moody's assigns Ba3 rating to PolyOne Corporation's proposed senior unsecured notes
Rating Action: Moody's assigns Ba3 rating to PolyOne Corporation's proposed senior unsecured notes. Global Credit Research- 29 Apr 2020. New York, April 29, 2020-- Moody's Investors Service, assigned a Ba3 rating to PolyOne Corporation's proposed $650 million senior unsecured notes due 2025. The proceeds are expected to be applied towards financing the $1.45 billion net purchase price acquisition of the Clariant Color and Additive Masterbatch business.PolyOne is a provider of polymer materials, services and solutions with operations in engineered materials, composites, color and additive systems and polymer distribution. The company is also a developer and manufacturer of additives, liquid colorants and fluoropolymers and silicone colorants. Co.'s segments include: Color, Additives and Inks, which is a provider of custom color and additive concentrates for thermoplastics, dispersions for thermosets, and specialty inks, plastisols, and vinyl slush molding solutions; and Specialty Engineered Materials, which is a provider of specialty polymer formulations, services and solutions for designers, assemblers and processors of thermoplastic materials.
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