BANGALORE (Thomson Financial) - Standard & Poor's Ratings Services said it
has raised Mosaic Co.'s corporate credit rating to 'BBB-' with a positive
outlook from 'BB+', following continued strengthening of the fertilizer products
company's financial profile.
The ratings agency said the company has used its robust operating cash flow
to reduce debt and build a sizable cash balance.
S&P also raised the issue-level ratings on Mosaic's and its subsidiary
Mosaic Global Holdings Inc.'s (MGHI) senior unsecured debt to 'BBB-' from 'BB+',
and affirmed the issue-level ratings on Mosaic's senior secured credit facility
at 'BBB'.
TFN.newsdesk@thomson.com
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