Global and well-diversified chemical operations with leading positions in a range of products across diverse agricultural, specialty, and industrial chemicals businesses; Some vertical integration, resulting in a favorable cost position; Lower-than-average dependence on petrochemical feedstocks and energy; and Moderate financial policies. Some earnings cyclicality; Meaningful environmental liabilities for continuing and discontinued operations; and Potential weakening of the financial profile as a result of acquisitions. The rating on FMC Corp. reflects a satisfactory business profile derived from moderate financial policies and leading positions in certain agricultural, specialty, and industrial chemicals markets. Philadelphia-based FMC is a global and diversified chemical manufacturer with annual sales of $2.8 billion. The business mix varies from mature and slower-growth commodity product lines, such as soda ash,
