Popular Queries

Moody’s raises PhosAgro’s credit rating to investment grade, confirms Stable outlook

30 January 2018
Moscow – PhosAgro ("PhosAgro" or "the Company") (Moscow Exchange, LSE: PHOR), one of the world’s leading vertically integrated phosphate-based fertilizer producers, announces that Moody’s Investor Service has raised the Company’s rating from Ba1 to Baa3, denoting investment grade. The outlook on the rating remains stable.

The upgrade follows Moody’s decision to change the outlook on Russia’s sovereign Ba1 ratings from Stable to Positive. Among other factors the agency cited Russia’s growing institutional strength as a reason for its decision.

PhosAgro CEO Andrey Guryev said: “We are pleased that a respected international ratings agency has revised its assessment in light of the growth prospsects of both the Russian economy and top-tier Russian companies.”

As a result PhosAgro holds investment-grade credit ratings from two ratings agencies:

- Standard & Poor’s: BBB- / Negative
- Moody’s: Baa3 / Stable