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On November 12, Fitch Ratings withdrew all ratings on OCP after the Moroccan phosphate group stopped participating in the rating process. Fitch had affirmed OCP at BB+ with a stable outlook before withdrawing.
OCP management argued that the speculative-grade Fitch rating muddies its credit perception, while S&P and Moody's rate it investment grade.
OCP is a major global phosphate fertilizer supplier, so reduced financial transparency and a rating withdrawal may affect investor confidence and financing costs, with limited direct near-term effect on phosphate supply.
fr.le360.maWadie El MoudenNov 14, 2026Not 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.
