SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549


FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of report (Date of earliest event reported):    July 10, 2007

POLYONE CORPORATION
(Exact name of registrant as specified in charter)

Ohio
(State or other
jurisdiction of
incorporation)
  
1-16091
(Commission
File Number)
  
34-1730488
(I.R.S.
Employer
Identification
No.)

PolyOne Center, 33587 Walker Road, Avon Lake, Ohio     44012
 (Address of principal executive offices)     (Zip Code)

Registrant's telephone number, including area code: (440) 930-1000

__________________________________________________________
(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing requirements of the registrant under any of the following provisions:

o
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13E-4(c))

 
 
 

Item 7.01 - Regulation FD Disclosure.

On July 10, 2007, the Registrant issued a press release, furnished herewith as Exhibit 99.1, announcing that Moody’s Investor Services had upgraded the Registrant’s corporate family rating to B1 from B2, and Registrant’s unsecured debt rating to B1 from B2. The press release shall not be deemed to be "filed" under the Securities Exchange Act of 1934.

Item 9.01. Financial Statements and Exhibits.

(d)
Exhibits.

Exhibit 99.1 - Press release dated July 10, 2007, furnished herewith.


SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
     
 
POLYONE CORPORATION
 
 		  
 		  
 
  By:   /s/ W. David Wilson
 
W. David Wilson
 
Senior Vice President and Chief Financial Officer
 
Dated: July 11, 2007