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Your Position:Home > Trade Knowledge

Moody raised parts of chemical credit rating

PostTime:2010/4/6 10:58:12 Author:本站  Click:38

Sinochem new - u.s.-based credit ratings company moody's investors service company recently will North America, Europe, Middle East and Africa chemical industry credit rating from "stable" for "positive" upward. Moody's said, these areas of the chemical industry in credit quality based on the rise in 2010, 2011 will be further improved. Credit ratings upgrades based on chemicals production with U.S. producers rally, the gas cost advantage and strong demand in emerging market growth, etc. The 2011 these areas of chemical industry will continue to grow, but growth will slow in 2010.

Moody's said that the future year chemicals prices will promote the growth of chemical industry. Reason is that although the Middle East new petrochemical project emerge in a large amount, but on the other hand some american-european old device due to a lack of competitiveness will be eliminated, global commodity chemicals industry will face shuffling, including propylene, butadiene and isoprene and of p-xylene, with the bulk chemical supply capacity adjustment and the rationalization of restrictions. In the circumstances, tightening in the supply of the raw material price will appear rises, but rising costs will pass to the consumers.

And bulk raw material prices contrast, benefit from shale gas vigorously develop, north American gas prices will continue to stay low. So moody's thought, North America bulk chemical producers and European competitors, will have a stronger profitability. Natural gas price advantage of raw materials in North America will be formed great good fertilizer producers, expects the industry's performance in the next year will be good in chemical industry average level. Meanwhile, fertiliser-makers will also benefit from agricultural prices. In addition, industrial gases and soda producers performance will also better than average.

Moody's said, chemical company's balance sheet and cash flow increases are activated chemical acquisitions, this will offset the chemical company natural growth slow inadequate. But moody's expected chemical company investment recovery, not only gradually increase could suddenly, because the current focus is still cost control.

However, moody's also warned that chemical industry risks still remain, including of inflation in emerging markets and developed economies consumer spending growth slowdown. In addition, oil prices if rise further, will also give chemical industry has brought risk

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