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21.06.2016 19:12:00
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Albemarle Corporation -- Moody's affirms Albemarle's Baa3, changes outlook to positive
New York, June 21, 2016 -- Moody's Investors Service affirmed the ratings of Albemarle Corporation at Baa3, following the announcement that it would sell its Chemetall metal surface treatment business to BASF for $3.2 billion and use a portion of the proceeds for debt reduction. Ratings affirmed include the P-3 Commercial Paper rating and Baa3 Senior Notes and Eurobonds. The transaction is subject to the normal regulatory and board approvals and is expected to close by year end 2016. Moody's changed the outlook to positive from stable.
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