Fitch trims OCP

Fitch Ratings said it downgraded OCP SA’s long-term issuer default and senior unsecured ratings to BB+ from BBB-. The outlook negative.

“OCP’s rating is notched down by one notch from that of its majority shareholder Morocco (BBB-/negative) reflecting the overall moderate-to-strong linkage between the company and the state in accordance with Fitch’s government-related entities (GRE) rating criteria,” Fitch said in a press release.

The negative outlook mirrors that of Morroco.

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