REG-PhosAgro PJSC PhosAgro PJSC: Fitch Changes PhosAgro's Credit Rating to 'B', in Line With Russia's Country Ceiling

PhosAgro PAOAnnouncement

05/03/2022 13:15

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   PhosAgro PJSC (PHOR)
   PhosAgro PJSC: Fitch Changes PhosAgro's Credit Rating to 'B', in Line With
   Russia's Country Ceiling

   05-March-2022 / 16:00 MSK
   Dissemination of a Regulatory Announcement that contains inside
   information according to REGULATION (EU) No 596/2014 (MAR), transmitted by
   EQS Group.
   The issuer is solely responsible for the content of this announcement.

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   For Immediate Release 5 March 2022

                                        

    

      Fitch Changes PhosAgro's Credit Rating to 'B', in Line With Russia's
                                Country Ceiling

                                        

   Moscow - PJSC PhosAgro  (Moscow Exchange, LSE: PHOR),  one of the  world's
   leading  vertically  integrated   phosphate-based  fertilizer   producers,
   announces that,  following  the  downgrade  of  the  Russian  Federation's
   sovereign rating,  Fitch  has  changed PhosAgro's  long-term  foreign  and
   local-currency issuer  default rating  from BBB-  to B  and placed  it  on
   Rating Watch  Negative. PhosAgro's  updated rating  reflects Russia's  new
   Country Ceiling.

   Despite the high degree of volatility and uncertainty in markets, PhosAgro
   is focused on continuing its stable  operations and is committed to  doing
   its utmost to  meet its  obligations while complying  with all  applicable
   laws.

   About us

    

   PhosAgro ( 1 www.phosagro.com) is one of the world's leading vertically
   integrated phosphate-based fertilizer producers in terms of production
   volumes of phosphate-based fertilizers and high-grade phosphate rock with
   a P2O5 content of 39% and higher. PhosAgro's environmentally friendly
   fertilizers stand out for their high efficiency, and they do not lead to
   the contamination of soils with heavy metals.

    

   The Company is the largest phosphate-based fertilizer producer in Europe
   (by total combined capacity for DAP/MAP/NP/NPK/NPS), the largest producer
   of high-grade phosphate rock with a P2O5 content of 39%, a top-three
   producer of MAP/DAP globally, one of the leading producers of feed
   phosphates (MCP) in Europe, and the only producer in Russia, and Russia's
   only producer of nepheline concentrate (according to the RAFP).

    

   PhosAgro's main products include phosphate rock, more than 50 grades of
   fertilizers, feed phosphates, ammonia, and sodium tripolyphosphate, which
   are used by customers in over 100 countries spanning all of the world's
   inhabited continents. The Company's priority markets outside of Russia and
   the CIS are Latin America, Europe and Asia.

    

   PhosAgro's shares are traded on the Moscow Exchange, and global depositary
   receipts (GDRs) for shares trade on the London Stock Exchange (under the
   ticker PHOR). Since 1 June 2016, the Company's GDRs have been included in
   the MSCI Russia and MSCI Emerging Markets indexes.

    

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   ISIN:           US71922G2093
   Category Code:  MSCH
   TIDM:           PHOR
   LEI Code:       25340053KRUNNYUWF472
   OAM Categories: 2.2. Inside information
   Sequence No.:   147129
   EQS News ID:    1295367


    
   End of Announcement EQS News Service

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