Fitch Ratings Affirms EuroChem Credit Rating
August 31, 2012 – EuroChem today announced that Fitch Ratings has affirmed Russia-based OJSC EuroChem Mineral and Chemical Company’s (EuroChem) Long-term local and foreign currency Issuer Default Ratings (IDR) at ‘BB’; National Long-term rating at ‘AA-(rus)’; and Short-term foreign currency IDR at ‘B’. The Outlook on all Long-term ratings is Stable.
The affirmations reflect EuroChem’s strong performance and robust cash flow generation on the back of favourable market conditions. This continues to underpin the group’s capacity to support ongoing sizeable expansion projects. The ratings also reflect EuroChem’s ability to access long-term funding for its refinancing and investment needs, as demonstrated by the various credit facilities raised by the group in 2011 and 2012.
The full text of the Fitch Ratings press release is available on the agency’s website: www.fitchratings.com
For more information please contact:
| Your contact persons: | |
| Investors: | |
| Olivier Harvey Head of Investor Relations Phone: +7 (495) 795 2527 (ext. 1519) Fax: +7 (495) 960 2293 Olivier.Harvey@eurochem.ru |
|
| Media: | |
| Vladimir Torin Head of Public Relations Phone: +7 (495) 795 2527 (ext 1440) Fax: +7 (495) 960 2293 Vladimir.Torin@eurochem.ru |