Fitch gives BB to EuroChem notes

Fitch Ratings said it assigned EuroChem Finance DAC’s upcoming dollar-denominated guaranteed notes an expected senior unsecured rating of BB(EXP).

The prospective notes will be issued for EuroChem Group AG's (EuroChem, BB/negative) debt refinancing and its working-capital needs.

The noteholders will benefit from the guarantees of EuroChem and the holding company for the group's Russia-based assets, JSC MCC EuroChem (BB/negative) and will rank pari passu with current and future outstanding unsecured and unsubordinated debt. EuroChem Finance DAC is an Ireland-based special purpose financing vehicle of EuroChem.

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