S&P ups Potash outlook to stable

Standard & Poor's said it revised the outlook on Potash Corp. of Saskatchewan Inc. to stable from negative, and affirmed its A- long-term corporate credit and senior unsecured debt ratings.

The outlook revision is based on an expectation that potash demand has rebounded and credit metrics will improve, S&P said.

The ratings reflect the company's leading market position in potash, its diversification in three fertilizers, low leverage and history of strong cash flow generation, the agency said.

Historical volatility in the company's nitrogen and phosphate operations, however, constrains the ratings, S&P said.

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