TEXT-S&P: Nexeo Solutions ratings unchanged on loan facility proposal

(The following statement was released by the rating agency)

Oct 5 - Standard & Poor's Ratings Services said today that its 'B'issue-level and '5' recovery rating on The Woodlands, Texas-based chemicals andplastics distributor Nexeo Solutions LLC's term loan remains unchanged followingthe company's proposal to increase the term loan to $525 million from $325million. All of our other ratings on Nexeo, including the 'B+' corporate creditrating, also remain unchanged. The outlook is stable.

Nexeo will use the proceeds to repay outstanding borrowings under itsasset-based revolving (ABL) credit facility and for general corporate purposes.

The '5' recovery rating on Nexeo's term loan indicates our expectation of amodest (10% to 30%) recovery in the event of a payment default. For thecomplete recovery analysis, see Standard & Poor's recovery report on Nexeo tobe published later on RatingsDirect.

For the latest complete corporate credit rating rationale, see Standard &Poor's summary analysis, "Nexeo Solutions LLC," published Sept. 13, 2012.

Ratings ListRatings UnchangedNexeo Solutions LLC

Corporate credit rating B+/Stable/--

$525mil. Sr Secd term loan B

due 2018 BRecovery rating 5Subordinated B-Recovery rating 6

Complete ratings information is available to subscribers of RatingsDirect onthe Global Credit Portal at

. All ratings affectedby this rating action can be found on Standard & Poor's public Web site at. Use the Ratings search box located in the leftcolumn.(New York Ratings Team)

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