NEW YORK (Reuters) – Lyondell Chemical Co said on Friday that it has exited bankruptcy after a 16-month process during which its debt load was reduced to about $5 billion from $24 billion.
The company, which went bankrupt last January after a drop in business due to the economic downturn left it unable to make debt payments, was able to make the move through financial backing from two private equity firms and industrial holding company Access Industries.
