Fitch revises EuroChem view to positive

Fitch Ratings said it revised EuroChem Group AG's outlook to positive from stable and affirmed its long-term issuer default rating at BB.

“The outlook revision captures the group's enhanced operational profile following full ramp-up of the ammonia and Usolskiy potash project, resilient existing operations and improved market conditions in the medium term, translating into solid forecast credit metrics. We forecast leverage in the next four years to be below our positive threshold of funds from operations (FFO) net leverage of 3.5x, mainly driven by EBITDA growth due to market recovery and implementation of the expansion projects,” Fitch said in a press release.

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