NEW YORK (Standard&Poor's) Oct. 30, 2003--Standard&Poor's Ratings Services said that FMC Corp's (BBB-/Negative/--) announcement of a $3.4 million net loss for the third-quarter 2003 and still-challenging industry conditions does not affect the ratings on the company or the negative outlook. The net loss includes after-tax charges of $20 million relating primarily to the previously announced Astaris restructuring program. Importantly, FMC outlined during its earnings teleconference call today a number of favorable developments in connection with the Astaris venture, including a meaningful improvement in phosphorus operating rates following the restructuring actions, the expected annual savings of approximately $40-50 million at the venture, and indications that the Astaris' debt is likely to be refinanced on a stand alone
