New York, June 24, 2015 -- Moody's Investor's Service assigned Ba1 ratings to Ashland Inc.'s new five year $1.1 billion senior unsecured Term Loan A and the new $1.2 billion senior unsecured revolver. The proceeds from the term loan are expected to be used to fund contributions to the company's U.S pension plans and to finance the tender offer, which was announced June 16, 2015, for the company's $600 million in 3.0% Senior Notes due March 15, 2016, and for general corporate purposes. Some or all of the 2016 notes are likely to be tendered in the near term, while the balance not tendered is expected to be repaid at maturity. Moody's also affirmed the company's Corporate Family Rating and senior unsecured ratings at Ba1 and the Probability of Default rating at Ba1-PD; the SGL rating is affirmed at SGL-1. The outlook for the ratings is stable.

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