S&P rates Qatar Fertiliser A+

Standard & Poor's said it assigned its A+ long-term corporate credit rating to Qatar Fertiliser Co.

The outlook is stable.

The rating reflects the strong ongoing support provided by its majority owner, the State of Qatar (AA-/stable/A-1+). It also considers the company's favorable cost position, underpinned by low feedstock prices and strong financial profile, S&P said.

The rating is constrained by the company's relative-scale versus its peers. The company has low product diversification, does not own a global distribution network and focuses its production on a single site. It also is subject to the price cyclicality of the global commodity market for nitrogen-based fertilizer, the agency said.

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