# Fitch affirms OCP at BB+ then withdraws the rating: group stops engaging with the agency

> Fitch Ratings affirmed the long-term rating of OCP, the Moroccan state-owned phosphate group, at BB+ with stable outlook before withdrawing all its ratings. The agency said the withdrawal followed the group's decision to stop participating in the rating process, not any downgrade.

- Date: 2026-11-15 · published 2026-11-15T15:18:10.025Z
- Category: macro · region Morocco · magnitude low
- Page: https://feedsoft.ai/events/101459-fitch-affirms-ocp-at-bb-then-withdraws-the-rating-group-stops-engaging-with-the
- Commodities: [DAP](https://feedsoft.ai/c/DAP.md)

## Why it matters

Losing public ratings can narrow the group's investor base and raise funding costs, while Fitch cited higher sulfur and ammonia costs from Middle East tensions that squeeze phosphate fertilizer margins and demand.

## Read by commodity

- DAP: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DAP | 2022-01-10 | [Why the cost of fertilizer is rising](https://feedsoft.ai/events/43075-why-the-cost-of-fertilizer-is-rising.md) | -1.4% | +0.3% |
| DAP | 2021-10-08 | [Fertilizer prices soaring as natural-gas rally adds to ‘perfect storm’ - MarketWatch](https://feedsoft.ai/events/5906-fertilizer-prices-soaring-as-natural-gas-rally-adds-to-perfect-storm-marketwatch.md) | 0.0% | +6.6% |
| DAP | 2026-10-07 | [OCP H1 2026: sulfur costs triple as EBITDA drops 28.5% — GIDEX Market News](https://feedsoft.ai/events/678-ocp-h1-2026-sulfur-costs-triple-as-ebitda-drops-28-5-gidex-market-news.md) | +0.3% | -0.8% |
| DAP | 2025-02-27 | [What's driving urea prices for farmers? \| Global Perspective \| The Land \| NSW](https://feedsoft.ai/events/26363-what-s-driving-urea-prices-for-farmers-global-perspective-the-land-nsw.md) | +1.7% | +2.1% |
| DAP | 2019-11-20 | [China’s potash and phosphate industries face an early mid... - CRU Group](https://feedsoft.ai/events/55989-china-s-potash-and-phosphate-industries-face-an-early-mid-cru-group.md) | -0.5% | -3.8% |

## Sources

- detafour.com: https://detafour.com/%D9%81%D9%8A%D8%AA%D8%B4-%D8%AA%D8%AB%D8%A8%D8%AA-%D8%AA%D8%B5%D9%86%D9%8A%D9%81-ocp-%D8%B9%D9%86%D8%AF-bb-%D8%AB%D9%85-%D8%AA%D8%B3%D8%AD%D8%A8%D9%87-%D8%A7%D9%84%D9%85%D8%AC%D9%85%D9%88%D8%B9/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.