S&P gives Syngenta BBB+

S&P said it gave a BBB+ issuer rating to Syngenta Group Co. Ltd.

Its rating is linked to parent Chinese government-owned Sinochem Holdings Corp. Ltd. because of its strategic importance. “Extraordinary government support will likely flow indirectly to the company via the parent, in our view,” the agency said in a press release.

“Syngenta Group's importance to its parent is underpinned by the company's advanced and wide range of crop protection and seed products, as well as its R&D capabilities. This is central to Sinochem Holdings' role within the Chinese government in modernizing and advancing the country's agricultural industry. This strengthens food security through improvement in crop yields and protection of arable land,” S&P said.

The outlook is stable and indicates the agency’s opinion that it will remain highly strategic to its parent Sinochem Holdings.

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