November 10, 2008
S&P has placed Sociedad Quimica y Minera de Chile’s BBB+ ratings on credit
S&P has placed Sociedad Quimica y Minera de Chile’s BBB+ ratings on credit watch negative, it says. The agency expects a more aggressive dividend policy that could affect SQM's financial profile. SQM’s controlling shareholder Pampa Calichera recently announced the distribution of $100m in provisory dividends, which may jeopardize its ability to make payments on some $500m in outstanding debt, S&P says. It adds that it is awaiting clarification on the company’s repayment plan.