S&P rates York Potash secured notes B-

S&P said it assigned a preliminary B- rating to York Potash Intermediate Holdings plc’s proposed $500 million of senior secured notes due 2027.

The outlook is stable.

Proceeds will be used, in part, to help fund construction of a mine. “We are assigning our preliminary B- long-term issue rating to the proposed issuance, reflecting the risks associated with the construction phase and its funding,” the agency said.

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