Moody's upgrades Mosaic's unsecured rating to Baa2, outlook stable
Moody's Investors Service ("Moody's") upgraded the senior unsecured ratings of The Mosaic Company (Mosaic) to Baa2 from Baa3. The ratings outlook is stable. "The upgrade reflects the unusually strong industry conditions that will allow Mosaic to generate a substantial amount of free cash flow in 202...Mosaic is a producer and marketer of concentrated phosphate and potash crop nutrients. The company is organized into three reportable business segments: Phosphates, which owns and operates mines and production facilities in Florida that produce concentrated phosphate crop nutrients and phosphate-based animal feed ingredients, and processing plants in Louisiana that produce concentrated phosphate crop nutrients; Potash, which mines and processes potash in Canada and the United States and sells potash in North America and internationally; and Mosaic Fertilizantes, which produces and sells concentrated phosphates crop nutrients, phosphate-based animal feed ingredients and potash fertilizer.
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