Fitch rates EuroChem notes BB

Fitch Ratings said it assigned an expected senior unsecured rating of BB to EuroChem Finance DAC's upcoming dollar-denominated five-year guaranteed notes.

The prospective notes will be issued for the refinancing of the notes due in 2021 issued by EuroChem Finance and the notes due 2020 issued by EuroChem Global Investments Designated Activity Co., Fitch said.

The noteholders will benefit from the guarantees of EuroChem Group AG and the holding company for the group's Russia-based assets, the agency said.

The notes will rank pari passu with current and future outstanding unsecured and unsubordinated debt, Fitch noted.

The agency said it maintains a cautious view on the ramp-up of potash volumes as the two projects have been delayed from original projections, the agency said.

The ratings reflect a supportive market environment as global prices for fertilizer products

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