S&P upgrades Paraguay rating to Investment Grade

ATOME (AIM: ATOM), the world-leading low-carbon fertiliser developer and the UK's only dedicated international industrial scale low-carbon fertiliser company, is pleased to note that S&P Global Ratings, the leading international rating agency, has updated Paraguay to investment grade.

S&P upgrade

ATOME notes that, on 17 December 2025, S&P Global Ratings, the leading international ratings agency, has raised Paraguay's long-term foreign and local currency sovereign credit rating to BBB- with outlook stable.

S&P states that the upgrade reflects Paraguay's recent history of sound economic and pro market policies, continued regulatory stability and a focus on strengthening governance, leading to strong economic growth and resilience with Paraguay's GDP forecast now revised to 5.4% for this current year.

These actions led to increasing investor confidence, enabling foreign investment and improving the country's medium-term economic outlook. It is noted that investments in ammonia and agro-industry are expected to provide Paraguay with favourable export prospects and boost consistent growth.

James Spalding, President of ATOME Paraguay, commented:

"This welcome recognition of Paraguay's improved international financial standing confirms the robust and fertile environment for our landmark low-carbon fertiliser project in Villeta.

"S&P now joins Moody's in raising Paraguay to investment grade, which is a solid acknowledgement of the long-standing track record of macroeconomic stability, strengthened by the country's recent growth and increasing the capacity for foreign direct investment.

"We congratulate Paraguay on this historic achievement and are proud to form part of this strong and vibrant economy as we move to achieve our target of declaring FID at Villeta by the end of January 2026."

About Reach announcements