Moody’s and S&P Amend PhosAgro’s Credit Rating Following Russia’s Sovereign Rating Change
PhosAgro PJSC (PHOR)
11-March-2022 / 20:30 MSK
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March 11, 2022 |
Moody’s and S&P Amend PhosAgro’s Credit Rating Following Russia’s Sovereign Rating Change
Moscow – PJSC PhosAgro (Moscow Exchange, LSE: PHOR), one of the world’s leading producers of vertically integrated phosphate-based fertilizers, announces that following the downgrade of the Russian Federation’s sovereign rating, Moody’s and S&P have changed PhosAgro’s corporate rating as follows:
PhosAgro’s updated ratings reflect Russia’s new national ceiling.
Despite the high degree of volatility and uncertainty in the markets, PhosAgro remains focused on continuing its stable operations and is committed to doing everything possible to meet its obligations while complying with all applicable laws.
About PhosAgro
PhosAgro (www.phosagro.ru) is one of the world’s leading vertically integrated phosphate fertilizer producers in terms of production volumes of high quality phosphate and phosphate rock fertilizers with a P2O5 content of 39% and more. PhosAgro’s environmentally friendly fertilizers are distinguished by their high efficiency and do not lead to soil contamination with heavy metals.
The Company is the largest producer of phosphate fertilizers in Europe (by total combined capacity for DAP/MAP/NP/NPK/NPS), the largest producer of high quality phosphate rock with a P2O5 content of 39%, one of the world’s top three producers of MAP/DAP, one of the main producers of feed phosphates (MCP) in Europe, and the only producer in Russia, and the only Russian producer of nepheline concentrate ( according to the RAFP)
PhosAgro’s main products include phosphate rock, more than 50 fertilizer grades, feed phosphates, ammonia and sodium tripolyphosphate, which are used by customers in 102 countries covering all inhabited continents of the world. The Company’s priority markets outside of Russia and the CIS are Latin America, Europe and Asia.
PhosAgro shares are traded on the Moscow Stock Exchange and Global Certificates of Deposit (GDR) for the shares are traded on the London Stock Exchange (under the symbol PHOR). Since June 1, 2016, the Company’s GDRs are included in the MSCI Russia and MSCI Emerging Markets indices.