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PhosAgro Receives Credit Rating from Moody`s and Fitch

30 January 2013
Moscow – PhosAgro (or "the Company") (Moscow Exchange, LSE: PHOR), a leading global vertically integrated phosphate-based fertilizer producer, announces that Moody`s Investor Service has assigned the company an investment-grade long-term Issuer Rating of ‘Baa3’ with a Stable outlook.  Fitch Ratings has assigned the Company a long-term foreign currency Issuer Default Rating (IDR) of ‘BB+’ with a Stable outlook. 
 
PhosAgro CEO Maxim Volkov said: "We are extremely pleased to have obtained an investment-grade credit rating of Baa3 from Moody`s, which reflects PhosAgro`s resilient business model, exceptionally strong balance sheet, and robust cash flow generation capacity. This is important recognition of the financial strength of our business as we continue to pursue key strategic goals with the focus to retain maximum capacity utilization rates given our advantage of flexible production and sales model together withorganic growth through capacity increases and consolidation of ownership in key production facilities.” 
 
The Moody`s Investor Service press release announcing the rating and key rating considerations is available at http://www.moodys.com/research/Moodys-assigns-Baa3-long-term-issuer-rating-to-OJSC-Phosagro--PR_264949?lang=ru&cy=easterneur
 
The Fitch Ratings press release announcing the rating and key rating considerations is available at http://www.fitchratings.com/creditdesk/press_releases/detail.cfm?pr_id=781307&origin=home