The ratings on FMC Corp. reflect an intermediate financial risk profile and a satisfactory business profile that 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 $3.1 billion. Its business mix varies and ranges from mature, commodity product lines--such as soda ash and peroxygens--to faster-growing, 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 agricultural chemicals segment, FMC has a portfolio of products targeted at certain crops in specific
