CRANBURY, N.J., May 20 /PRNewswire-FirstCall/ -- Innophos Holdings, Inc. (Nasdaq: IPHS), a leading North American specialty phosphates producer, reported that on May 18, 2010, Standard & Poor's Ratings Services upgraded its corporate family rating to BB- (from B+) with a positive outlook and upgraded ratings on its $190 million 8.875% senior subordinated notes due 2014. The following summarizes the ratings:
Innophos, Inc. – Ratings Upgraded
Corporate Credit Rating: BB-/Positive/-- from B+/Positive/--
$190 million 8.875% senior subordinated notes due 2014: BB- (recovery rating 4) from B+ (recovery rating 4)
Earlier this year, Moody's Investors Service changed the outlook on Innophos Holdings, Inc.'s ratings to positive from stable and affirmed Innophos' Ba3 Corporate Family Rating (CFR) and SGL-1 Speculative Grade Liquidity rating.
About Innophos Holdings, Inc.
Innophos is a leading North American producer of specialty phosphate products, offering performance-critical ingredients with applications in food, beverage, pharmaceutical, oral care and industrial end markets. Innophos produces complex phosphates to the highest standards of quality and consistency demanded by customers worldwide, develops new and innovative phosphate-based products to address specific customer applications and supports these high-value products with industry-leading technical service. Headquartered in Cranbury, New Jersey, Innophos has manufacturing operations in Nashville, TN; Chicago Heights, IL; Chicago (Waterway), IL; Geismar, LA; Port Maitland, ON (Canada); and Coatzacoalcos, Veracruz and Mission Hills, Guanajuato (Mexico). For more information please see www.innophos.com. 'IPHS-G'
SOURCE Innophos Holdings, Inc.
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