S&P affirms Mosaic; outlook down to stable

Standard & Poor's said it affirmed its BBB- corporate credit and senior unsecured debt ratings on the Mosaic Co. and revised the outlook to stable from positive.

The agency said it adjusts debt to include about $700 million of asset retirement obligations, tax-effected postretirement and environmental liabilities, capitalized operating leases and guarantees.

"The outlook revision reflects its view that Mosaic is well positioned to maintain credit quality consistent with the current ratings, though it remains vulnerable to potential disruptions at a small number of key operating sites," said S&P credit analyst Cynthia Werneth.

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