Moody's upgrades Albaugh

Moody's Investors Service said it upgraded Albaugh, LLC's corporate family rating to Ba2 from Ba3, probability of default rating to Ba2-PD from Ba3-PD and senior secured bank credit facilities ratings to Ba2 from Ba3.

"The upgrade reflects the improved business profile following Rotam and Afrasa acquisitions, and expectations of continued improvements through new product growth and synergy realization despite the near-term headwinds in the agricultural chemicals market," said Anastasija Johnson, a Moody’s senior credit officer, in a statement.

"We expect metrics to weaken from current peak levels on lower prices and volumes but remain in line with the rating in 2023."

The outlook is stable.

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