Fitch Ratings Affirms EuroChem Credit Rating
OREANDA-NEWS. September 14, 2012. EuroChem announced that Fitch Ratings has affirmed Russia-based OJSC EuroChem Mineral and Chemical Company's (EuroChem) Long-term local and foreign currency Issuer Default Ratings (IDR) at 'BB'; National Long-term rating at 'AA-(rus)'; and Short-term foreign currency IDR at 'B'. The Outlook on all Long-term ratings is Stable.
The affirmations reflect EuroChem's strong performance and robust cash flow generation on the back of favourable market conditions. This continues to underpin the group's capacity to support ongoing sizeable expansion projects. The ratings also reflect EuroChem's ability to access long-term funding for its refinancing and investment needs, as demonstrated by the various credit facilities raised by the group in 2011 and 2012.
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