Moody's: K+S view to negative

Moody's Investors Service said it affirmed the Baa2 senior unsecured and issuer ratings of K+S AG and changed its outlook to negative from stable.

Moody's said the change to a negative outlook follows K+S AG's announcement of an increased capital spending budget for its Canadian greenfield potash project, the Legacy Project. The project's total anticipated capex has risen to C$4.1 billion from C$3.25 billion and the projected start-up date has been delayed by about six months, to mid-2016.

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