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S&P upgrades CF Industries
S&P said it raised its long-term issuer credit ratings on CF Industries Holdings Inc. and debt-issuing subsidiary CF Industries Inc. by one notch to BBB from BBB-.
S&P also raised the issue-level ratings on the company’s unsecured debt by one notch to BBB from BBB-.
The outlook is stable.
“We project CF Industries Holdings Inc.'s earnings and credit measures will remain strong over our forecast period, with its weighted average adjusted funds from operations (FFO) to debt and adjusted debt to EBITDA ratios being well-within or slightly stronger than the 45%-60% and 1.5x-2.0x ranges, respectively,” S&P said in a news release.
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