shares of huntsman corp hun rose 11 in afternoon trading wednesday after the specialty chemicals companys credit rating was upgraded out of junk territory at sp global ratings citing a strengthened risk profile as costcutting and pricing initiatives has improved profitability sp raised huntsmans credit rating to bbb which is the rating agencys lower investmentgrade rating and said the outlook for the rating was stable the upgrade reflects the companys improved mix of businesses with its transition toward a specialty chemicalsfocused company following divestitures of its more volatile and capitalintensive businesses and acquisitions of highermargin specialty chemicals businesses sp said in addition sp said it believes management is committed to maintaining a relatively conservative balance sheet that supports the investmentgrade rating the upgrade comes ahead of huntsmans firstquarter results which are expected to be reported on april 28 the stock has slipped 02 year to date while the spdr materials select sector etf xlb has lost 18 and the sp 500 spx has dropped 69