Standard and Poors has announced an upgrade of Yaras long-term credit rating from BBB to BBB+.
The upgrade follows Yaras solid track record as an independent company and the increased appreciation that Standard & Poors gives to the companys financial profile.
The basis for the improvement is the solid fundamentals in the agri markets combined with Yaras strong cost position and geographical diversification as the worlds largest distributor of fertilizer and producer of nitrogen.
Hallgeir Storvik, CFO of Yara International ASA, said: We are pleased that Standard & Poors emphasises the strength of our global business positions in justifying the credit upgrade in addition to the strong financial performance of our company.
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