S&P: Israel Chemicals on watch

S&P said it placed the BBB corporate credit rating on Israel Chemicals Ltd. on CreditWatch with negative implications.

The agency also said it placed the BBB ratings on the company’s senior unsecured debt on CreditWatch negative.

The negative watch reflects the high likelihood that, due to weak market conditions, Israel Chemical’s credit metrics will be less than commensurate with a BBB rating in 2016 and 2017, S&P said.

The CreditWatch placement also reflects the potential that the various steps implemented by Israel Chemical’s management could enhance its credit metrics and its overall financial standing, the agency said.

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