PhosAgro Gets BB+/Positive Rating from Standard & Poor’s

OJSC PHOSAGRO - PhosAgro Gets BB+/Positive Rating from Standard & Poor’s

PR Newswire

London, February 21

PhosAgro GetsBB+/PositiveRating from Standard & Poor's

Moscow - PhosAgro (or "the Company") (Moscow Exchange, LSE: PHOR), a leadingglobal vertically integrated phosphate-based fertilizer producer, announcesthat Standard & Poor's has assigned the Company a BB+ long-term corporatecredit rating with a positive outlook.

In January 2013 Moody's Investor Service assigned PhosAgro an investment-gradelong-term Issuer Rating of `Baa3' with a Stable outlook. Fitch Ratings assignedthe Company a long-term foreign currency Issuer Default Rating (IDR) of `BB+'with a Stable outlook.

The Standard & Poor's press release announcing the rating and key ratingconsiderations is available at (registration required): http://www.standardandpoors.com/prot/ratings/articles/en/eu/?articleType=HTML&assetID=1245347800353

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OJSC PhosAgro

PhosAgro is a leading global vertically integrated phosphate-based fertiliserproducer. The Group focuses on the production of phosphate-based fertilisers,feed phosphate and high-grade phosphate rock (with P2O5 content of not lessthan 39 percent), as well as ammonia and nitrogen-based fertilisers.

The Group is the largest phosphate-based fertiliser producer in Europe, thelargest producer of high-grade phosphate rock worldwide and the second largestMAP/DAP producer in the world (excluding China), according to Fertecon.PhosAgro is also a leading producer of MCP feed phosphates in Europe, and theonly producer in Russia.

PhosAgro has 2.1 billion tonnes of resources (according to JORC) of highquality apatite-nepheline ore, representing over 75 years of production. TheGroup also controls substantial Al2O3 resources and has 41% of Russia's rareearth oxides resources according to the G.P. Luzin Institute of EconomicProblems of the Kolskiy Scientific Centre of the Russian Academy of Sciences,2010).

The Group's mines and phosphate rock production facilities are located in themountainous areas of the Kola Peninsula in the Murmansk region of northwestRussia, whereas its fertiliser and feed phosphate production assets are locatednear the city of Cherepovets in the Vologda region and near the city ofBalakovo in the Saratov region of southwest part of European Russia. PhosAgro's2011 IFRS revenue was over USD 3.4 bln and EBITDA was USD 1.2 bln. The Сompany's net debt/EBITDA ratio was 0.43 at 31 December 2011.

For further information on PhosAgro please visit: www.PhosAgro.com