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S&P assigns OCP BBB- rating
Standard & Poor's said it assigned a BBB- long-term corporate credit rating to OCP SA.
The rating reflects OCP's stand-alone credit profile of BBB-, S&P said.
The outlook is negative.
The ratings consider the company's satisfactory business risk profile and significant financial risk profile, S&P said.
As the Moroccan government owns nearly 95% of OCP and the company is very important for the state and the economy, the agency said it views OCP as a government-related entity.
However, likely extraordinary government support does not currently lift the rating since OCP's stand-alone credit profile is at the same level as the long-term rating on Morocco, S&P said.
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