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Solutia delays Upper DECS pricing

On 28 January 2002 US applied chemistry company Solutia, Inc. announced its intent to promptly commence an offering of Upper DECS. Solutia expected a credit rating decision from Moody“s Investor Serv…

On 28 January 2002 US applied chemistry company Solutia, Inc. announced its intent to promptly commence an offering of Upper DECS. Solutia expected a credit rating decision from Moody“s Investor Services prior to pricing this offering today. Pending Moody“s action, Solutia has chosen to delay its pricing of the Upper DECS. Action by Moody“s is expected shortly. The Upper DECS are being offered through a prospectus pursuant to Solutia“s effective shelf registration statement in an offering book-managed by Salomon Smith Barney, jointly lead-managed by Bear, Stearns & Co. Inc., and co-managed by Banc of America Securities LLC and Morgan Stanley.

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