PhosAgro confirms first-class borrower status

Standard & Poor’s Global Ratings has affirmed PhosAgro’s investment-grade in the foreign and national currency Credit Rating of BBB- with a stable outlook.

S&P reports that the stable outlook for the company reflects the agency’s opinion that PhosAgro’s credit metrics will remain commensurate with current ratings. The adjusted debt to EBITDA will be lower 2x, and the ratio of operating funds to debt will be higher 45%. The stable outlook also reflects S&P’s view that the company will maintain its leading positions in segments of nitrogen and phosphate fertilizers.

“The confirmation of the company’s status as a high-class borrower by one of the most respected global agencies indicates PhosAgro’s fundamental stability and high financial discipline,” noted PhosAgro CEO Andrey Guryev.