Standard & Poor’s Upgrades Oxea Corporate Credit Rating to B+ with Stable Outlook

MONHEIM AM RHEIN, Germany–(BUSINESS WIRE)–The credit rating agency Standard & Poor’s Global Ratings (S&P) has
upgraded its long-term corporate credit rating for the global chemical
company Oxea to B+ from B with a stable outlook. The upgrade reflects
Oxea’s leading position as a European and U.S. producer of oxo
intermediate and oxo derivative chemicals. In addition, the rating
agency mentioned Oxea’s steady improvement in profitability over the
past twelve months.

“We are pleased with S&P’s recognition of our strong performance in 2017
and our sustained positive business development”, said Stefan Schmidt,
Oxea’s Chief Financial Officer. “The acknowledgment is also a motivation
for us to continue to develop our position as one of the leading
manufacturers of oxo intermediates and oxo derivatives.”

About Oxea
Oxea is a global manufacturer of oxo
intermediates and oxo derivatives, such as alcohols, polyols, carboxylic
acids, specialty esters, and amines. These products are used for the
production of high-quality coatings, lubricants, cosmetics and
pharmaceutical products, flavorings and fragrances, printing inks and
plastics. Oxea employs more than 1,400 people worldwide. Oxea is part of
the Oman Oil Company S.A.O.C. (OOC), a commercial company wholly owned
by the Government of Oman. Established in 1996, it pursues investment
opportunities in the wider energy sector both inside and outside Oman.
OOC plays an important role in the Sultanate's efforts to diversify the
economy and to promote domestic and foreign investments.

For more information about Oxea, visit www.oxea-chemicals.com.

Contacts

OXEA GmbH
Thorsten Ostermann
Communications and Press
Relations
Phone: +49 (0)2173 9993-3009
[email protected]