Nufarm Ltd. Outlook Revised To Stable On More Disciplined Operating Strategy; 'BB' Ratings Affirmed

MELBOURNE (Standard&Poor's) Dec. 11, 2015--Standard&Poor's Ratings Services said today that it has revised the outlook on its 'BB' long-term corporate credit rating on Australia-based Nufarm Ltd. to stable from negative. At the same time, we have affirmed the corporate credit rating, issue ratings, and the related recovery ratings. "The outlook revision to stable reflects our expectation that Nufarm's more focused operating strategy will support the company's deleveraging path," said Standard&Poor's credit analyst Graeme Ferguson. "In our opinion, Nufarm has adopted a more disciplined approach to working capital management, operational performance, and product mix." Restructuring initiatives also include the consolidation of Nufarm's manufacturing footprint, supply chain, and procurement. Nufarm will close five manufacturing facilities in

...MELBOURNE (Standard & Poor's) Dec. 11, 2015--Standard & Poor's Ratings Services said today that it has revised the outlook on its '##' long-term corporate credit rating on Australia-based Nufarm Ltd. to stable from negative. At the same time, we have affirmed the corporate credit rating, issue ratings, and the related recovery ratings. "The outlook revision to stable reflects our expectation that Nufarm's more focused operating strategy will support the company's deleveraging path," said Standard & Poor's credit analyst Graeme Ferguson. "In our opinion, Nufarm has adopted a more disciplined approach to working capital management, operational performance, and product mix." Restructuring initiatives also include the consolidation of Nufarm's manufacturing footprint, supply chain, and procurement. Nufarm will close five manufacturing facilities in Australia, New Zealand, Canada, and the Netherlands. In addition, we have greater confidence in the current management's ability to successfully...

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