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Fitch applies BBB to CF Industries notes
Fitch Ratings said it assigned a rating of BBB to CF Industries, Inc.’s $250 million 4.49% senior unsecured notes due 2022, $500 million 4.93% senior unsecured notes due 2025 and $250 million 5.03% senior unsecured notes due 2027.
The notes are guaranteed by CF Industries Holdings, Inc.
Proceeds are to be used to fund capital expenditure programs and for other general corporate purposes, including working capital.
Fitch said the ratings benefit from CF Industries’ position as the largest nitrogen fertilizer producer in the U.S. and the second largest globally as well as its position as one of the lower cost producers, globally, given the shale gas advantage.
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