Fitch: stable view for Indian fertilizer

Fitch Ratings said in a new report that the outlook for the Indian power fertilizer sector for 2010 to remain stable to negative.

Fertilizer companies shall continue to enjoy low off-take risks on account of the inadequate domestic capacity facing strong and growing demand for fertilizers in the country, Fitch said.

The credit profiles also shall benefit from the support available from the government of India due to the strategic role of the sector in ensuring national food security, the agency said.

Downside factors include the possibility of major structural changes in the subsidy regime, which could have a significant impact on the business risk of fertilizer manufacturers, Fitch added.

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