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; Attractive and stable operating margin, and high return on capital; and Moderate financial policies. Significant environmental and pension liabilities; Some earnings volatility as a result of cyclical end markets, such as construction, agriculture, and pulp and paper; and Regulatory and supply concentration risks. The ratings on FMC Corp. reflect an intermediate financial risk profile and a satisfactory business profile, which stems from its leading positions in certain agricultural, specialty, and industrial chemicals markets. Based in Philadelphia, =FMC is a global and diversified chemical manufacturer, with trailing-12-month sales of about $3 billion.
