New User:

Forgot your password?

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
Sign up for a free trial to see the rest of the stories you've been missing.
October 5, 2015
10:10 EDTKRAKraton Performance management to meet with JPMorgan
Subscribe for More Information
September 28, 2015
06:08 EDTKRAKraton Performance to host conference call
Subscribe for More Information
06:04 EDTKRAKraton Performance agrees to acquire Arizona Chemical Holdings for $1.37B
Kraton Performance announced that it has entered into a definitive agreement to acquire all of the capital stock of privately held Arizona Chemical Holdings Corporation for a cash purchase price of $1.37B. Arizona Chemical is a global producer of high-value performance products and specialty chemicals derived from non-hydrocarbon, renewable raw materials. Arizona Chemical's end use market exposure is highly complementary with that of Kraton, particularly in markets such as adhesives, roads and construction, coatings and oilfield chemicals. The $1.37B base purchase price is subject to adjustment for cash and indebtedness at closing, as well as an adjustment for working capital and other items. Kraton will finance the purchase price through debt facilities that have been committed by Credit Suisse Securities, Nomura Securities International, Inc., and Deutsche Bank Securities, Inc. The seller of Arizona Chemical is AZC Holding Company, LLC, which is principally owned by investment funds managed by American Securities LLC. The acquisition is subject to regulatory and other customary approvals and conditions and is currently expected to close in late 2015 or early 2016. the acquisition is expected to result in $65M of pre-tax run rate synergies and is expected to be accretive to EPS by approximately $1.40 per share in the first full year of combined operation.

Sign up for a free trial to see the rest of the stories you've been missing.
I agree to the disclaimer & terms of use