S&P lifts Potash

Standard & Poor's said it raised the long-term corporate credit and senior unsecured debt ratings on Potash Corp. of Saskatchewan Inc. to A- from BBB+.

The upgrade reflects PotashCorp's improved financial risk profile and expectations of strong cash flow generation in the near term, given the tight market conditions, according to the agency.

The outlook is stable.

Ratings reflect a leading market position, diversification in three fertilizers, low leverage and strong cash flow generation, S&P said.

Ratings are constrained by historical volatility in the company's nitrogen and phosphate operations, the agency noted.

As of June 30, adjusted debt-to-EBITDA ratio was 1 times.

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