Fitch revises Israel Chemicals to negative

Fitch Ratings said it revised Israel Chemicals Ltd.'s outlook to negative from stable and affirmed its issuer default rating at BBB.

The agency also affirmed the BBB senior unsecured rating on Israel Chemicals’ $800 million 4˝% senior unsecured notes due 2024.

Fitch said the negative outlook reflects the lack of clarity on whether Israel Chemicals’ investment strategy and/or dividend policy revision would be sufficient to allow the company to deleverage from its expected 2016 leverage peak.

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