London, 21 November 2014 -- On 18 November 2014, Uralkali (Baa3 negative) suspended operations at the Solikamsk-2 mine, one of its five potash mines, owing to increasing brine inflows. Moody's considers that the accident may have a material negative impact on the company's production volumes and financial profile. The company will have to face reduced potash production volumes and earnings, bear emergency costs and accelerate capital expenditure in new capacity projects. However, Moody's notes that there is no immediate ratings impact as the situation at the mine and accident research is developing, while the current negative outlook on Uralkali's ratings already reflects uncertainty over the company's ability to deliver financial metrics commensurate with its investment grade rating over the next 18 months.

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