Moody's confirms Yara International

Moody's Investors Service said it confirmed the Baa2 issuer rating of Yara International and the Baa2 ratings on its senior unsecured notes following news that the company that it has withdrawn from the bidding process for Terra Industries and a confirmation that the company has received the termination notice with regard to the Terra merger agreement.

The outlook is stable.

The stable outlook reflects an expectation that Yara will continue to manage proactively its operations in the still difficult market environment, Moody's said, and maintain its conservative financial policy that continues to underpin the current rating.

The ratings also are supported by an expectation of some recovery in the financial metrics in 2010, the agency said, and conservative balance sheet management, particularly while cash flow generation remains weak.

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