Moody’s shifts Incitec Pivot view to negative

Moody’s Investors Service said it revised the outlooks for Incitec Pivot Ltd., Dyno Nobel Europe Pty Ltd. and Incitec Pivot Finance LLC to negative from stable.

“The negative outlook reflects weakening credit metrics based on lower earnings guidance, as well as uncertainty around the outcome of the strategic review of IPL’s fertilizer business,” said Moody’s in a news release.

The agency affirmed Incitec’s Baa2 rating. The backed senior unsecured MTN foreign currency (P)Baa2 ratings for IPL, Dyno Nobel Europe Pty Ltd and Incitec Pivot Finance LLC were also affirmed.

The senior unsecured MTN local currency (P)Baa2 rating for IPL and the backed senior unsecured local currency Baa2 rating for Incitec Pivot Finance LLC were also affirmed.

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