20 Dec 2021 08:23
Expert RA Upgrades Acronâs Rating to ruAA-20 December 2021
Expert RA Upgrades Acronâs Rating to ruAA-
The rating agency Expert RA has upgraded Acronâs credit rating from ruA+ to ruAA- with a stable outlook.
The agency explained that the upgrade was driven by the Groupâs strong financial performance, higher production following modernisation and capacity increases, and favourable conditions on the mineral fertiliser market that allowed the Company to reduce its debt burden in both absolute and relative terms.
Media Contacts:
Sergey DorofeevAnastasia GromovaTatiana SmirnovaPublic RelationsPhone: +7 (495) 777-08-65 (ext. 5196)
Investor Contacts:
Ilya PopovSergey SmirnovStrategy and Investor RelationsPhone: +7 (495) 745-77-45 (ext. 5252)
Background Information
Acron Group is a leading vertically integrated mineral fertiliser producer in Russia and globally, with chemical production facilities in Veliky Novgorod (Acron) and Smolensk region (Dorogobuzh). The Group owns and operates a phosphate mine in Murmansk region (North-Western Phosphorous Company, NWPC) and is implementing a potash development project in Perm Krai (Verkhnekamsk Potash Company, VPC). It owns transportation and logistics infrastructure, including three Baltic seaport terminals and distribution networks in Russia and China. Acron subsidiary North Atlantic Potash Inc. (NAP) holds mining leases and an exploration permit for ten parcels of the potassium salt deposit at Prairie Evaporite, Saskatchewan, Canada. Acron also holds a minority stake (19.8%) in Polish Grupa Azoty S.A., one of the largest chemical producers in Europe.
In 2020, the Group sold 7.8Â million tonnes of its main products to 74Â countries, with Russia, Brazil, Europe and the United States as key markets.
In 2020, the Group posted consolidated IFRS revenue of RUBÂ 119,864Â million (USDÂ 1,661Â million), with EBITDA of RUBÂ 35,311Â million (USDÂ 489Â million). Acronâs shares are traded on the Moscow Exchange and its global depositary receipts are traded at the London Stock Exchange (ticker AKRN). Acron employs over 11,000Â people.
For more information about Acron Group, please visit www.acron.ru/en.