REG-PhosAgro PJSC PhosAgro PJSC: Moody's and S&P Change PhosAgro's Credit Rating Following Change in Russia's Sovereign Rating

PhosAgro PAOAnnouncement

11/03/2022 17:45

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   PhosAgro PJSC (PHOR)
   PhosAgro PJSC: Moody's and S&P Change PhosAgro's Credit Rating Following
   Change in Russia's Sovereign Rating

   11-March-2022 / 20:30 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 11 March 2022

                                        

    

      Moody's and S&P Change PhosAgro's Credit Rating Following Change in
                           Russia's Sovereign Rating

                                        

   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, Moody's and S&P have changed PhosAgro's corporate rating
   as follows:

     • Moody's changed its rating from Baa3 to Caa2;
     • S&P changed its rating from BBB- to CCC-.

   PhosAgro's updated ratings reflect Russia's new country ceiling.

   Despite the high degree of volatility and uncertainty in markets, PhosAgro
   remains focused on continuing  its stable operations  and is committed  to
   doing its  utmost  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-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  102  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.:   148655
   EQS News ID:    1300993


    
   End of Announcement EQS News Service

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