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  "documentTitle": "Huntsman Corporation (HUN)",
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      "text": "The Company's actual net leverage ratio ended up significantly higher than what had been communicated to shareholders at the time of the Rockwood transaction.",
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      "text": "Huntsman Net Leverage Ratio vs. Initial Target at Time of Rockwood Transaction",
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      "text": "net leverage ratio: 3.4x",
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      "text": "The Company’s actual net leverage ratio ended up significantly higher than what had been communicated to shareholders at the time of the Rockwood transaction.",
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      "text": "The Company’s leverage ratio remained elevated in the years following the Rockwood transaction, despite Huntsman’s commitment to shareholders that it would quickly return to an investment grade balance sheet.",
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      "text": "We continue to remain focused as a Company and our Board of Directors on deleveraging. I think that when you look at our targets going out 2015 and 2016, our leverage ratios during that time period, particularly when you take into account an IPO during that time period, that our leverage ratios go to our long-time stated objective of 2.0 times our EBITDA.",
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      "text": "\"We continue to remain focused as a Company and our Board of Directors on deleveraging. I think that when you look at our targets going out 2015 and 2016, our leverage ratios during that time period, particularly when you take into account an IPO during that time period, that our leverage ratios go to our long-time stated objective of 2.0 times our EBITDA.\" — Peter Huntsman, President & CEO, September 2013",
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      "kind": "source-note",
      "text": "Source: Public company filings, presentations, and transcripts. (1) Net debt defined as total debt less total cash, where total cash excludes restricted cash. (2) Leverage ratio calculated using Adjusted EBITDA pro forma for the Rockwood TiO2 transaction as if the transaction had closed on January 1, 2014.",
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      "text": "The Company Also Failed to Reduce Its Leverage Ratio",
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