Bulletin: FMC Corp. Ratings Unchanged On Upsize To Proposed Secured Notes

This report does not constitute a rating action. NEW YORK (S&P Global Ratings) May 21, 2026-- S&P Global Ratings today said its ratings on FMC Corp. (BB+/Negative/B) are unchanged following FMC?s upsize to its secured notes. The company initially launched the offering at $750 million but is now upsizing to $1.2 billion due to strong demand for the issuance. While this amount and the indicative pricing are slightly greater than we assumed in our recovery analysis, the magnitude is not sufficient to affect any of our ratings on FMC. We are revising our rounded estimate on the unsecured notes to 30% from 35%, but the recovery rating of ?4? and issue-level rating of ?BB+? remain unchanged. The company?s debt structure

...May 21, 2026 This report does not constitute a rating action. NEW YORK (S&P Global Ratings) May 21, 2026-- S&P Global Ratings today said its ratings on FMC Corp. (##+/Negative/B) are unchanged following FMC's upsize to its secured notes. The company initially launched the offering at $750 million but is now upsizing to $1.2 billion due to strong demand for the issuance. While this amount and the indicative pricing are slightly greater than we assumed in our recovery analysis, the magnitude is not sufficient to affect any of our ratings on FMC. We are revising our rounded estimate on the unsecured notes to 30% from 35%, but the recovery rating of `4' and issue-level rating of `##+' remain unchanged....

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