RCS - ATOME PLC - S&P upgrades Paraguay rating to Investment Grade

AtomeAnnouncement

19/12/2025 07:00

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RNS Number : 1947M  ATOME PLC  19 December 2025

 

For immediate release

19 December 2025

 

 

ATOME PLC

("ATOME" or the "Company")

 

S&P upgrades Paraguay country rating to Investment Grade

 

 

ATOME (AIM: ATOM), the world-leading low-carbon fertiliser developer and the
UK's only dedicated international industrial scale low-carbon fertiliser
company, is pleased to note that S&P Global Ratings, the leading
international rating agency, has updated Paraguay to investment grade.

 

 

S&P upgrade

 

ATOME notes that, on 17 December 2025, S&P Global Ratings, the leading
international ratings agency, has raised Paraguay's long-term foreign and
local currency sovereign credit rating to BBB- with outlook stable.

 

S&P states that the upgrade reflects Paraguay's recent history of sound
economic and pro market policies, continued regulatory stability and a focus
on strengthening governance, leading to strong economic growth and resilience
with Paraguay's GDP forecast now revised to 5.4% for this current year.

 

These actions led to increasing investor confidence, enabling foreign
investment and improving the country's medium-term economic outlook. It is
noted that investments in ammonia and agro-industry are expected to provide
Paraguay with favourable export prospects and boost consistent growth.

 

 

James Spalding, President of ATOME Paraguay, commented:

"This welcome recognition of Paraguay's improved international financial
standing confirms the robust and fertile environment for our landmark
low-carbon fertiliser project in Villeta.

"S&P now joins Moody's in raising Paraguay to investment grade, which is a
solid acknowledgement of the long-standing track record of macroeconomic
stability, strengthened by the country's recent growth and increasing the
capacity for foreign direct investment.

 

"We congratulate Paraguay on this historic achievement and are proud to form
part of this strong and vibrant economy as we move to achieve our target of
declaring FID at Villeta by the end of January 2026."

 

 

For further information on ATOME, please visit the Company's Curation Connect
showcase at: https://app.curationconnect.com/company/Atome-71605
(https://app.curationconnect.com/company/Atome-71605)

 

For more information, please visit https://www.atomeplc.com or contact:

 

 ATOME PLC                                +44 (0) 113 337 2210
 Nikita Levine, Investor Relations
info@atomeplc.com

 FTI Consulting (Communications Adviser)  +44 (0) 20 3727 1000

                                        atome@fticonsulting.com (mailto:atome@fticonsulting.com)
 Elizabeth Adams, Ben Brewerton

 

About ATOME

 

ATOME PLC is an AIM-listed company targeting green fertiliser production with
445-megawatt of projects in Paraguay and a further pipeline of potential
projects in Central America. ATOME has now created its ATOME POWER division
which is in the early stages of developing a significant green power
generation and infrastructure business. ATOME's projects are situated at the
heart of one of the world's largest food export hubs - the Mercosur region in
the Southern Cone of South America with the Argentinian and Brazilian markets
next door. ATOME's production will disrupt the region's heavy dependence on
imported fossil fuel generated fertilizer, contributing to regional food
security goals.

 

ATOME's first project in Villeta, Paraguay, benefits from a 145MW renewable
power purchase agreement and a 30-hectare site in a tax-free zone, with an
option already secured to purchase an additional 13 hectares of adjacent land.
Front End Engineering Design studies have been completed and a 10-year
Definitive Offtake Agreement signed with Yara International, the leading
international fertiliser company, for offtake of all of Villeta's green
fertiliser production. In early 2025, ATOME announced Hy24, the leading clean
hydrogen asset manager, as anchor and lead equity investor in the project, and
confirmed the signing of the US$465 million fixed-price EPC contract with
leading ammonia and fertilizer engineering specialist Casale S.A. The Company
is now negotiating the project finance with a view to commencing work in 2025.
There is a further up to 300MW of renewable power reserved for ATOME in
Paraguay.

 

In Costa Rica, The National Ammonia Corporation S.A. was formed in 2022 with
local partner Cavendish S.A. based in Costa Rica to develop green fertiliser
projects for the region. As well as straddling the Pacific and Atlantic
Oceans, Costa Rica is a democratic Central American country. In agriculture,
Costa Rica is the second largest supplier of pineapples in the world and is in
the top ten banana growers.

 

All power for ATOME is from 100% renewable sources and all chosen sites are
located close to the power and water sources and export facilities to serve
significant domestic and then international demand. Roughly a third of
human-caused GHG emissions is linked to food production according to UN data,
and fertiliser use and production is the source of more emissions than the
shipping and aviation industries combined. ATOME's green Calcium Ammonium
Nitrate product will contribute to decarbonising the food sector from the
bottom up, getting to the root of the food value chain's emissions. ATOME's
renewably-generated fertiliser is both clean and promotes high crop yields,
unlike conventional nitrogen fertiliser which has a heavy carbon footprint.

 

The Company has a green-focused Board which is supported by major shareholders
including Peter Levine, Schroders, a leading fund manager, and Baker Hughes, a
global technology company operating in the energy and industry sectors.

 

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