-- Norway-based fertilizer distributor and producer Yara International has announced that it plans to acquire nitrogen producer Terra Industries. -- Following the partially debt-financed acquisition, we believe Yara's credit metrics could remain below the level that we consider commensurate with an "Intermediate" financial risk profile. -- We are placing the ratings on Yara on CreditWatch with negative implications. -- We expect to resolve the CreditWatch on the close of the acquisition. Any downgrade is likely to be limited to one notch. LONDON (Standard&Poor's) Feb. 15, 2010--Standard&Poor's Ratings Services said today that it placed the 'BBB' long-term and 'A-2' short-term corporate credit ratings on Norway-based fertilizer distributor and producer Yara International ASA on CreditWatch with negative implications.
