Standard and Poor's upgrades Yara to BBB+
Dec 21, 2005
The upgrade follows Yara's solid track record as an independent company and the increased appreciation that Standard & Poor's gives to the company's financial profile. The basis for the improvement is the solid fundamentals in the agri markets combined with Yara's strong cost position and geographical diversification as the world's largest distributor of fertilizer and producer of nitrogen.
"We are pleased that Standard & Poor's emphasizes the strength of our global business positions in justifying the credit upgrade in addition to the strong financial performance of our company. The improved rating level underpins Yara's position as the world's leading fertilizer company while maintaining strong financial discipline", said Hallgeir Storvik, CFO of Yara International ASA.
Egil Hogna, Investor Relations
Telephone (+47) 24 15 71 66
Cellular (+47) 90 187 865
Arne Cartridge, Media Relations
Telephone (+47) 24 15 73 01
Cellular (+47) 47 900 900
Yara International ASA is the world's leading supplier of mineral fertilizers with particular strength in nitrogen-based fertilizers. Yara has a local presence in 50 countries worldwide. Yara sells more than 20 million tonnes of mineral fertilizers in more than 120 countries. Yara offers fertilizers meeting the nutrient needs of local crops supported by agronomic advice to make farming more profitable and agriculture more sustainable. Yara has a strong position in industrial markets in Europe as a supplier of nitrogen-based chemicals and is the leading supplier of liquid CO2.