Nitrogénművek wishes to inform its creditors about recent developments regarding the carbon-dioxide quota tax.

Since November 15, we have been engaged in active dialogue with credit rating agencies, during which we presented and analysed in detail our current and future performance. I was not surprised by the negative decisions of the agencies, in spite of our different assessment. It is challenging to offset the risks associated with the newly introduced, extraordinary tax payment in a highly cyclical industry, even if our performance is at the forefront of European producers. The rating agencies had to react on this.