Fitch affirms Incitec Pivot

Fitch Ratings said it affirmed Incitec Pivot Ltd.'s long-term issuer default rating and senior unsecured rating at BBB.

The outlook is stable.

The rating is supported by the company's leading position in the Australia fertilizer and U.S. explosives industries, its relative geographic and product diversity, vertical integration across the value chain and generally competitive cost base, Fitch said.

The company services both hard and soft commodity sectors, which are impacted by different economic drivers, the agency said.

The global fertilizer outlook currently benefits from favorable prices, which are driven by price strength in soft commodities, low producer inventories and tight supply, Fitch added.

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