Moody's Upgrades Albaugh, LLC Credit Facilities Rating
Wednesday, March 1, 2023 in North America
Moody’s Upgrades Albaugh, LLC Credit Facilities Rating
ANKENY, Iowa, March 1, 2023 – Moody’s Investor Services has announced that they have upgraded Albaugh, LLC’s corporate family rating 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, VP-Senior Credit Officer at Moody's.
The Ba2 corporate family rating reflects Albaugh's position as one of the top 10 global crop protection producers with a growing new product portfolio but high concentration in commodity herbicides, particularly in glyphosate. The rating benefits from the modestly leveraged balance sheet and expanded geographic footprint, broader portfolio and market segmentation approach following the transformative Rotam acquisition and the acquisition of Spain based Industrias Afrasa in 2022. The rating incorporates expectations that the company will continue to expand its growth portfolio either through new product registrations or acquisitions.
“The upgrade in Albaugh’s credit facilities rating is not only a reflection of the company’s position in the global crop protection market,” said Kurt Pedersen Kaalund, Chief Executive Officer – Albaugh. “It is also a reflection of the concerted effort that the company has made in strategic growth at the global level, through acquisitions and new product registrations. Our unique corporate efficiencies allow us to deliver more flexibility and more choices to our customers in all regions of the world, while never losing sight of our founding principle: providing high-quality products and great service at competitive prices.”
About Albaugh, LLC
Headquartered in Ankeny, IA, Albaugh is the largest privately held supplier of crop protection products in the world. Albaugh offers an ever-expanding portfolio of crop protection products in the key agricultural regions of North America, Mexico/LATAM North, Brazil/Paraguay, Argentina/LATAM South, Europe/MEA and China/Asia/Pacific. Albaugh operates world-class multi-functional plants supporting these markets. To learn more, visit www.albaughllc.com.