New York, March 18, 2014 -- Moody's Investors Service said today that it views the Mosaic Company's (Mosaic, Baa1 stable) now completed purchase of the Florida-based phosphate mining and manufacturing business of CF Industries Holdings' (CF Industries, Baa2 stable) as credit positive. Mosaic announced on 17 March 2014 that the purchase was completed as expected for $1.2 billion cash and $200 million to fund CF Industries' asset retirement obligation escrow. Mosaic said that it plans to fund a portion of the purchase price with pre-payable term debt to be issued sometime in 2014. Partly due to this purchase, Moody's continues to believe that Mosaic's credit profile will weaken slightly over the next 12 to 18 months. However, while the purchase will not result in a change to Mosaic's rating or outlook, the rating agency believes it will be credit positive for Mosaic over the long-term.

Vollständigen Artikel bei Moodys lesen