...NEW YORK (S&P Global Ratings) May 4, 2017--S&P Global Ratings said today it assigned its '###' issue-level rating to FMC Corp.'s $1.5 billion delayed-draw senior unsecured term loan and placed it on CreditWatch with negative implications. FMC plans to divest its health and nutrition segment to E.I DuPont De Nemours & Co. and acquire a significant portion of DuPont's crop protection business. FMC will use proceeds from the delayed-draw term loan to fund the balancing payment to DuPont and pay transaction fees and expenses. Our existing ratings on FMC are unchanged, and remain on CreditWatch with negative implications, where we placed them on April 3, 2017, following the company's announcement of these transactions. We will resolve the CreditWatch listing when the proposed transaction closes, which we expect will be in the second half of 2017 based on the company's announcement. We would expect that, if the transaction closes as is currently structured, we would likely lower all ratings by...
