Fitch rates OCP notes BBB-

Fitch Ratings said it has assigned OCP SA's $1.25 billion of 5.625% notes due 2024 and $300 million of 6.875% notes due 2044 final BBB- ratings.

Proceeds are being used to fund OCP's capital expenditure program and for general corporate purposes, the agency said.

OCP's ratings reflect its vertical integration, competitive cost position, exceptionally large ore reserves and its leading market positions in phosphoric acid and phosphate rock, Fitch noted.

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