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We do not have specific debt ratio targets, but aim at having a medium grade credit rating. The only financial covenant is to have a debt to equity ratio below 1.4. The ratio was 0.27 at the end of 3Q 2020.
USD million | 30 Sep 2020 | 31 Dec 2019 | 31 Dec 2018 |
---|---|---|---|
Bank loans and overdraft facilities | 678 | 1,377 | 978 |
Commercial papers | 0 | 0 | 0 |
Unsecured debenture bonds | 2,885 | 2,139 | 2,905 |
Other | 64 | 74 | 91 |
Total | 3,627 | 3,590 | 3,974 |
Yara has official ratings from Moody's Investors Services (Moody's) and Standard & Poor's Rating Services (S&P).
For rating definitions, see Standard & Poor's and Moody's (links will open in a new window).
Rating agency | Date of rating | Rating | Outlook |
Standard & Poor's | 2020/12/17 | BBB/A-2 (since 10/2007) | Stable |
Moody's |
2020/09/11 |
Baa2 (since 11/2004) | Stable |
Link to the Standard & Poor's report (PDF, 1.27 mb) and the Moody's report (PDF, 1.26 mb).
ISIN/CUSIP | Currency | Interest | Amount (millions) | Maturity |
NO0010727885 | NOK | 2.55% | 700 | Dec 2021 |
NO0010811979 | NOK | Nibor+0.75% | 1,250 | Dec 2022 |
NO0010812019 | SEK | 1.10% | 800 | Dec 2022 |
NO0010812001 | SEK | Stibor+1.00% | 450 | Dec 2022 |
NO0010727993 | NOK | 3.00% | 600 | Dec 2024 |
NO0010811987 | NOK | 2.45% | 1,000 | Dec 2024 |
US984851AD75 | USD | 3.800% | 500 | Jun 2026 |
NO0010811995 | NOK | 2.90% | 1,000 | Dec 2027 |
US984851AF24 | USD | 4.75% | 1,000 | Jun 2028 |
US984851AG07 | USD | 3.148% | 750 | Jun 2030 |
Below you will see the maturity profile of our debt. We have substantial undrawn credit facilities which provide financial flexibility.
Per end of 3Q 2020. Excluding lease liabilities.
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