Standard & Poor's Upgrades Ashland to BB+; Outlook Stable (ASH)
3/12/2010- On Friday, Standard & Poor's Ratings Services upgraded Ashland (NYSE: ASH) one notch to BB+ from BB, bringing the company nearly to investment grade territory to reflect benefits from the chemical company's November 2008 purchase of Hercules and "extensive" cost cuts.
S&P also cited improvement at Ashland's Valvoline consumer business and the belief that the brightening economic outlook will allow Ashland to continue posting solid operating results over the next two years.
Write to Chip Brian at cbrian@tradethetrend.com
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