Fitch Ratings upgraded Acron's Long-term Issuer Default Rating (IDR) to 'BB-' from ‘B+’ since operational profile has fundamentally improved due to vertical integration into phosphates. The Outlook is now Stable and reflects strong earnings forecast in view of forthcoming increase in phosphate concentrate and ammonia output.
Full list of Fitch’s rating actions:
- Long-term local and foreign currency IDRs upgraded to 'BB-' from 'B+'; Stable Outlook
- National Long-term Rating upgraded to 'A+ (rus)' from 'A(rus)'; Stable Outlook
- Short-term foreign currency IDR affirmed at 'B'
- Local currency senior unsecured rating upgraded to 'BB-'/'RR4' from 'B+'/'RR4' (rouble bond programme)