Research Update: FMC Corp. Downgraded To 'BB+' On Continued Weak Credit Metrics; Outlook Negative - S&P Global Ratings’ Credit Research

Research Update: FMC Corp. Downgraded To 'BB+' On Continued Weak Credit Metrics; Outlook Negative

Research Update: FMC Corp. Downgraded To 'BB+' On Continued Weak Credit Metrics; Outlook Negative - S&P Global Ratings’ Credit Research
Research Update: FMC Corp. Downgraded To 'BB+' On Continued Weak Credit Metrics; Outlook Negative
Published Nov 25, 2025
8 pages (3647 words) — Published Nov 25, 2025
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

We think that uncertainty around FMC Corp. ?s 2026 EBITDA and credit measures has increased and believe that credit metrics next year will be weaker than our previous expectations despite management?s mitigation efforts. Therefore, we lowered our issuer credit ratings on the company to ?BB+? from ?BBB-?. At the same time, we lowered our issue-level rating on unsecured debt to ?BB+? from ?BBB-?. We assigned a recovery rating of ?3? (rounded estimate: 65%, capped). We additionally lowered our issue-level rating on the subordinated hybrid notes to ?B+? from ?BB?. We also lowered our short-term issue level ratings to ?B? from ?A-3? in line with the downgrade of the issuer credit rating. The negative outlook reflects our belief that EBITDA will

  
Brief Excerpt:

...We think that uncertainty around FMC Corp.'s 2026 EBITDA and credit measures has increased and believe that credit metrics next year will be weaker than our previous expectations despite management's mitigation efforts....

  
Report Type:

Research Update

Ticker
FMC
Issuer
FMC Corp.
GICS
Fertilizers & Agricultural Chemicals (15101030)
Sector
Global Issuers
Country
United States
Region
United States
Format:
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Research Update: FMC Corp. Downgraded To 'BB+' On Continued Weak Credit Metrics; Outlook Negative" Nov 25, 2025. Alacra Store. Nov 07, 2026. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-FMC-Corp-Downgraded-To-BB-On-Continued-Weak-Credit-Metrics-Outlook-Negative-3486014>
  
APA:
S&P Global Ratings’ Credit Research. (). Research Update: FMC Corp. Downgraded To 'BB+' On Continued Weak Credit Metrics; Outlook Negative Nov 25, 2025. New York, NY: Alacra Store. Retrieved Nov 07, 2026 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-FMC-Corp-Downgraded-To-BB-On-Continued-Weak-Credit-Metrics-Outlook-Negative-3486014>
  
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