S&P nicks MHP

S&P said it lowered its ratings on MHP SE and the company’s senior unsecured notes to B- from B and placed them on CreditWatch with negative implications.

“We see material risks from the deterioration in the economic and financing conditions in Ukraine. Material risks for agricultural companies like MHP, Ukraine's largest poultry meat producer and exporter, are linked to severe trade flow restrictions and weak harvesting conditions for key crops as we move into planting season over the next few weeks,” the agency said in a press release.

The negative watch reflects that on Ukraine and mirrors the uncertainty the conflict bears on the country’s economy and financial and agricultural export capacity, S&P said.

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