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FMC Corp. Downgraded To 'BBB-' On Asset Swap; Outlook Stable

Published Nov 01, 2017

5 pages (1967 words) — Published Nov 01, 2017

Price US$ 150.00 | Buy this Report Now

About This Report

Abstract:

Philadelphia-based FMC Corp.announced that it has closed the transactions with E.I. DuPont De Nemours&Co. whereby FMC is divesting its health and nutrition segment and acquiring a significant portion of DuPont's crop protection business. We are lowering our corporate credit rating on FMC Corp. to 'BBB-' from 'BBB', and removing all ratings from CreditWatch with negative implications. At the same time, we are lowering the senior unsecured debt rating to 'BBB-' from 'BBB' and removing it from CreditWatch with negative implications. The stable outlook reflects the company's track record of successfully integrating a transformational acquisition in the past, along with our expectation that the company will prioritize free cash flow for debt reduction in an effort to improve credit

Brief Excerpt:

...+ Philadelphia-based FMC Corp.announced that it has closed the transactions with E.I. DuPont De Nemours & Co. whereby FMC is divesting its health and nutrition segment and acquiring a significant portion of DuPont's crop protection business. + We are lowering our corporate credit rating on FMC Corp. to '###-' from '###', and removing all ratings from CreditWatch with negative implications. + At the same time, we are lowering the senior unsecured debt rating to '###-' from '###' and removing it from CreditWatch with negative implications. + The stable outlook reflects the company's track record of successfully integrating a transformational acquisition in the past, along with our expectation that the company will prioritize free cash flow for debt reduction in an effort to improve credit measures following these transactions. NEW YORK (S&P Global Ratings) Nov. 1, 2017--S&P Global Ratings today lowered its corporate credit rating on FMC Corp. to '###-' from '###' and removed all ratings from...

Report Type:

Ratings Action

Ticker

FMC

Issuer

FMC Corp.

GICS

Fertilizers & Agricultural Chemicals (15101030)

Sector

Global Issuers , Structured Finance

Country

United States

Region

United States

Format:

PDF

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Cite this Report


MLA:	S&P Global Ratings’ Credit Research. "FMC Corp. Downgraded To 'BBB-' On Asset Swap; Outlook Stable" Nov 01, 2017. Alacra Store. May 20, 2025. <http://www.alacrastore.com/s-and-p-credit-research/FMC-Corp-Downgraded-To-BBB-On-Asset-Swap-Outlook-Stable-1941344>

APA:	S&P Global Ratings’ Credit Research. (). FMC Corp. Downgraded To 'BBB-' On Asset Swap; Outlook Stable Nov 01, 2017. New York, NY: Alacra Store. Retrieved May 20, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/FMC-Corp-Downgraded-To-BBB-On-Asset-Swap-Outlook-Stable-1941344>

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