Global and well-diversified chemical operations with strong market positions in a range of products across diverse industrial, agricultural, and specialty chemicals businesses. Lower-than-average dependence on petrochemical feedstocks and energy. An attractive, stable operating margin and a high return on capital. Currently strong financial profile for the ratings. Significant environmental and pension liabilities. Some earnings volatility because of cyclical end markets, such as construction, agriculture, and pulp and paper. Regulatory and supply concentration risks. The ratings on FMC Corp. reflect an intermediate financial risk profile and a satisfactory business profile that stems from its leading positions in certain agricultural, specialty, and industrial chemicals markets. FMC is a global and diversified chemical manufacturer with trailing-12-month sales of $2.8 billion. Its business mix
