S&P affirms Yara International

S&P said it affirmed the long- and short-term ratings on Yara International ASA at BBB/A-2.

The outlook is stable.

The agency also affirmed the BBB issue ratings on Yara's $500 million unsecured bonds due June 2019 and $500 million unsecured bonds due June 2026.

S&P said the affirmation factors in its forecast of a recovery in Yara's adjusted EBITDA in 2018 to about NOK 16.5 billion to NOK 17.5 billion, supported by the benefits from its improvement program, additional volumes from capacity expansions and the Babrala acquisition, and notwithstanding the subdued fertilizer prices and higher natural gas prices in Europe.

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