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LONDON, April 12. /TASS/. S&P downgrades the outlook for the long-term credit rating of the Russian potash producer Uralkali from stable to negative, the international rating agency said on Tuesday.
The rating actions reflect significant weakening of the fertilizer market environment over the past six months and our expectation that nitrogen, phosphate, and potash fertilizer prices will remain well below 2015 levels in the next several years, S&P said. "We therefore forecast lower earnings and higher leverage for the companies than we anticipated before," the rating agency reported.
S&P also lowered long-term corporate credit ratings for EuroChem Group AG, K+S AG, and Potash Corp.