Standard and Poor\\$quot;s has announced an upgrade of Yara\\$quot;s long-term credit rating from BBB to BBB+.
The upgrade follows Yara\\$quot;s solid track record as an independent company and the increased appreciation that Standard & Poor\\$quot;s gives to the company\\$quot;s financial profile.
The basis for the improvement is the solid fundamentals in the agri markets combined with Yara\\$quot;s strong cost position and geographical diversification as the world\\$quot;s largest distributor of fertilizer and producer of nitrogen.
Hallgeir Storvik, CFO of Yara International ASA, said: \\$quot;We are pleased that Standard & Poor\\$quot;s emphasises 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\\$quot;s position as the world\\$quot;s leading fertilizer company while maintaining strong financial discipline.'