W.R. Grace & Co.-Conn. -- Moody's: Grace's agreement to settle future asbestos-related personal injury payments is credit positive; ratings unaffected

New York, August 04, 2014 -- Moody's Investors Service has today said that it views as credit positive W. R. Grace & Co. - Conn. (Grace, Ba2 stable) announcement that it reached an agreement to terminate all of its deferred payment obligations for asbestos-related personal injury claims, for a cash consideration of $632 million. Grace's asbestos-related personal injury claims are channelled through a personal injury trust established under Section 524(g) of the US Bankruptcy Court. It is this Trust that Grace has reached this most recent agreement with. Grace has said that it expects to raise long-term debt to fund the agreement, which is set to close no later than 31 October 2014.

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