Mosaic Company (The) -- Moody's assigns Baa1 rating to Mosaic's new notes

New York, November 07, 2013 -- Moody's Investors Service has today assigned a Baa1 rating to the proposed $2 billion of new senior unsecured notes to be issued by The Mosaic Company (Mosaic, Baa1 stable). The proposed new issuance of up to $2 billion will likely be comprised of notes or bonds over three different maturities (10-year, 20-year, and 30-year). Mosaic has stated that proceeds from the new notes will be used for general corporate purposes, strategic opportunities, and share repurchases. On 28 October 2013, Mosaic announced its intention to acquire the Florida-based phosphate mining and manufacturing business of CF Industries Holdings, Inc. (Baa2 stable) for a total consideration of approximately $1.4 billion (comprised of $1.2 billion for the phosphate business and $200 million to fund CF Industries' asset retirement obligation escrow, the CF transaction). The rating outlook is stable.

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