– 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.