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Fitch Ratings affirmed OCP S.A.'s long-term issuer default rating at BB+ with a stable outlook and revised its standalone credit profile up to bbb-. The agency cites OCP's market leadership, cost position and a 3 million tonne capacity expansion, with 1 million tonnes commissioned in May 2023.
Leverage is expected to stay below 2.7x.
The rating affirmation signals financial stability at the world's largest phosphate producer, which supports its ability to fund capacity expansion and keep supplying phosphate products.
worldfertilizer.comEmily ThomasOct 24, 2023Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
