New York, February 06, 2015 -- Moody's Investors Service has said that it views as moderately credit negative yesterday's announcement by W. R. Grace & Co., which issues debt through its main operating subsidiary W. R. Grace & Co. - Conn. (Grace, Ba2 stable), that it would separate into two independent, publicly traded companies in about a year: New Grace, a catalysts technologies and materials technologies segment, and New GCP, consisting of Grace's construction products segment and its Darex packaging business. Moody's also stated that Grace's planned separation has no immediate impact on its Ba2 Corporate Family Rating (CFR).

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