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. Its business mix varies and ranges from mature, slower-growth commodity product lines--such as soda ash, peroxygens, and phosphates--to higher-value-added agrochemicals and strong niche positions within microcrystalline cellulose, carrageenan, alginates, and lithium products. Standard&Poor's Ratings Services' believes that FMC benefits from vertical integration in soda ash and lithium, which should remain a cost advantage. In its specialty and agricultural chemicals segments, FMC in specialized and niche areas based on higher-value-added products
