Moody’s affirms Yara International

Moody’s Investors Service said it affirmed the Baa2 issuer rating of Yara International ASA and its baseline credit assessment of baa2.

At the same time, the agency affirmed the Baa2 ratings assigned to Yara's senior unsecured notes.

The outlook is stable.

“The affirmation reflects the fact that Yara's Baa2 rating is underpinned by the significant scale and high degree of integration of its operations, its leading position in the nitrogen fertilizer markets, both as a producer and a distributor, and its global footprint, albeit with a more limited presence in North America,” Moody’s said in a news release.

“This is tempered by the relatively high cyclicality of the fertiliser industry, as well as Yara's high exposure to energy and agricultural commodity markets.”

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.