LONDON (Standard&Poor's) July 15, 2008--Standard&Poor's Ratings Services said today it affirmed its 'BBB' long-term and 'A-2' short-term corporate credit ratings on Norway-based fertilizer company Yara International ASA following the company's announcement that it plans to acquire Canada-based Saskferco Products Inc. The outlook is stable. "The $1.6 billion acquisition will be debt financed via existing facilities, however, we expect credit protection ratios on a pro forma basis for the acquisition to remain well within expectations for the rating, with funds from operations (FFO) to debt of above 45% for 2008," said Standard&Poor's credit analyst Sophia Dedemadis. "Yara's financial profile continues to benefit from the very favorable global supply and demand balance in the agrochemical industry,"
