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Stock Market & Financial Investment News

News Breaks
February 3, 2014
12:52 EDTKRAS&P revises Kraton Performance Polymers outlook to positive
Standard & Poor's Ratings Services revised its outlook on Kraton Performance Polymers to positive from stable. S&P said, "At the same time, we affirmed our 'B+' corporate credit rating on the company and our 'B' issue-level rating on the company's unsecured debt. The recovery rating on the unsecured debt remains '5', indicating our expectation of modest recovery in the event of a payment default." "The positive outlook reflects our estimation that there is at least a one in three probability of a rating upgrade arising from the proposed combination of Kraton's assets with LCY Chemical Corp.'s sytrenic block copolymers assets," said Standard & Poor's credit analyst Pranay Sonalkar. Shares of Kraton Performance Polymers are higher by almost 2.5% in midday trading.
News For KRA From The Last 14 Days
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August 11, 2014
17:26 EDTKRAPoint72 Asset reports 5.1% passive stake in Kraton Performance
08:34 EDTKRAKraton Performance receives termination notice of combination agreement from LCY
Kraton Performance announced that on August 8, 2014 it received notice from LCY Chemical Corp. that LCY had exercised its right to terminate the Combination Agreement between Kraton and LCY following the Kraton board's August 6, 2014 withdrawal of its recommendation that Kraton's stockholders approve the Combination Agreement. The termination notice from LCY declared that the termination was effective as of August 8.
August 8, 2014
10:00 EDTKRAOn The Fly: Analyst Downgrade Summary
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06:46 EDTKRAKraton Performance downgraded to Neutral from Buy at UBS
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August 7, 2014
08:37 EDTKRAKraton Performance withdraws recommendation for approval of LCY combination
Kraton Performance's Board of Directors withdrew its prior recommendation that Kraton's stockholders approve the previously announced Combination Agreement under which Kraton would combine with LCY's styrenic block copolymer operations. Following Kraton's June 30th notification of its Board's intention to change its recommendation due to decline in results, LCY notified Kraton on August 4 that it would no longer negotiate, and would not agree to, any revisions to the terms and conditions. As a result of the Kraton Board's withdrawal of its recommendation, LCY has the contractual right to terminate the Combination Agreement. The Combination Agreement provides for Kraton to pay LCY a $25M break up fee upon a termination of the Combination Agreement unless a LCY material adverse effect has occurred and is continuing at the time of the withdrawal of the Kraton Board's recommendation. The Kraton Board believes that the impact upon LCY of the July 31 explosion in a gas pipeline in Kaohsiung, Taiwan constitutes a LCY material adverse effect as defined in the Combination Agreement.

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