Incitec Pivot Ltd.#s US$1.5 Billion Euro Medium-Term Note Program Assigned #BBB# Rating

Stocks and Financial Services Press Releases Monday July 17, 2017 09:11
SYDNEY--17 Jul--S&P Global Ratings

SYDNEY (S&P Global Ratings) July 17, 2017--S&P Global Ratings said today thatit had assigned its 'BBB' long-term credit rating to Incitec Pivot Ltd.'sUS$1.5 billion, euro medium-term note program. Any notes issued under theprogram will rank pari passu with Incitec Pivot's other senior unsecured debt.

The issuing entities are Incitec Pivot Ltd., Incitec Pivot Finance LLC, andDyno Nobel Europe Pty Ltd. Any applicable financial covenants will be detailedin separate debt issue pricing supplements that will be drawn down from thisprogram.

Our 'BBB' ratings reflect Incitec Pivot's solid positions in key fertilizerand explosives markets, its cost competitiveness supported by long-lifephosphate reserves, and business unit and geographic diversification. IncitecPivot is one of the market leaders in the U.S. North American explosives

industry. It also holds the number two position in Australia, and is themarket leader in the east coast Australian fertilizer market. Supporting ourview are Incitec Pivot's moderate financial policies and its willingness touse financial levers to offset credit stress on its metrics. Its financialtargets include net debt to EBITDA (excluding material items) of less than2.5x and EBITDA to net interest coverage of greater than 6x.

Latest Press Release

Photo Release: MTS Gold Group: the First Thai Local Broker of CME Group

Dr.Kritcharat Hirunyasiri Chairman of MTS Gold Group, and Mr.Nuttapong Hirunyasiri CEO of MTS Gold Group, together with Mr. Christopher Fix Managing Director, Head of Asia Pacific, CME Group, and Mr. Nicolas Dupuis, Senior Directors, Energy Product,...

Credit Guarantee And Investment Facility #AA/A-1+# Ratings Outlook Remains Stable

SINGAPORE (S&P Global Ratings) June 22, 2018--S&P Global Ratings today affirmed its 'AA' long-term and 'A-1+' short-term issuer credit ratings on the Credit Guarantee and Investment Facility (CGIF). The outlook remains stable. We affirmed the...

Asian Development Bank Ratings Affirmed At #AAA# With Stable Outlook

SINGAPORE (S&P Global Ratings) June 22, 2018--S&P Global Ratings said today that it has affirmed its 'AAA' long-term and 'A-1+' short-term foreign currency issuer credit ratings on the Asian Development Bank (AsDB). The outlook remains stable. We...

GPSC Outlook Revised To Negative On The Proposed Acquisition Of #BBB-# Rating Affirmed

SINGAPORE (S&P Global Ratings) June 22, 2018--S&P Global Ratings revised the outlook on Global Power Synergy Public Co. Ltd. (GPSC) to negative from stable. At the same time, we affirmed our 'BBB-' long-term issuer credit rating on the...

River Funding No. 5 Class 1-FR And 1-VF Notes Assigned #AAA (sf)# Rating

HONG KONG (S&P Global Ratings) June 22, 2018--S&P Global Ratings today assigned its 'AAA (sf)' rating to the class 1-FR and 1-VF notes issued by River Funding No. 5. (see list). The notes are backed by a revolving pool of credit card receivables...

Related Topics