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Organic Potash Corp C.OPC

Alternate Symbol(s):  OPCGF

Organic Potash Corporation is a Canada-based company, which is engaged in the development of production of potassium carbonate produced from agricultural waste, namely cocoa husks in West Africa. The Company produces food grade potassium carbonate from organic waste materials using patented production technology. It has its production facility in Takoradi-Sekondi, Ghana and Ivory Coast. The Company's potassium carbonate is used in multiple industries, including food, manufacturing (potassium carbonate is found in numerous consumer and industrial products), and pharmaceuticals. The Company’s subsidiary is GC Purchasing Ltd.


CSE:OPC - Post by User

Bullboard Posts
Post by Thechaseron Jul 03, 2009 8:08pm
644 Views
Post# 16116452

S&P: Ratings Put On CreditWatch...

S&P: Ratings Put On CreditWatch.......negative on liquidity and covenant concerns.

Abstract:
We view OPTI Canada Inc.'s current liquidity position as constrained and believe it has limited ability to fund its share of Long Lake project costs for the balance of the year. We are placing the ratings on CreditWatch with negative implications. The CreditWatch will likely be resolved following receipt of second-quarter bitumen production at Long Lake, a resolution regarding the proposed equity issuance, and the outcome of talks regarding possible covenant relief with its lenders. On June 26, 2009, Standard&Poor's Ratings Services placed its 'B-' long-term corporate credit, 'B+' secured revolving credit facility, and 'B' senior secured debt ratings on Calgary, Alta.-based OPTI Canada Inc. on CreditWatch with negative implications.

Bullboard Posts