Arysta obtains investment grade rating from JCR
TOKYO (August 31, 2004) - Arysta LifeScience obtained credit
rating of "BBB-" for long term senior debt from Japan Credit Rating
Agency Ltd., the most trusted local rating agency in Japan. The rating
agency officially made the following announcement as of August 31,
2004.
Arysta LifeScience: BBB- Outlook (Stable)
Arysta LifeScience is engaged worldwide in distribution, sales &
marketing and development of agrochemicals. It is an equity method
affiliate of both Tomen and Sojitz. A private equity fund also holds
shares of Arysta LifeScience. Arysta LifeScience has been pushing for
reforms under the leadership of the new president and CEO. It is
strengthening its independence from each of the shareholders. JCR is
concerned about probable intensification of competition from rivals for
the mainstay profitable agrochemicals. Arysta LifeScience plans to
increase the earnings through acquisition of licensing rights to
products and enhancement of distribution network in the emerging
markets. JCR will pay attention to the going of these developments as
well as their impacts on earnings and financial structure. Outlook for
the rating will be stable for the foreseeable future.