ATOME PLC (AIM) has enthusiastically acknowledged the recent upgrade of Paraguay’s investment rating by Moody’s, a development that marks a significant milestone for the country’s economic future. Moody’s, a leading global ratings agency, has elevated Paraguay to investment grade Baa3 from Ba1, aligning it with countries like India. This upgrade underscores Paraguay’s robust economic trajectory, which saw a 4.7% growth in 2023, and its ongoing institutional reforms that have strengthened its governance and international standing.

For ATOME Energy, this upgrade is particularly significant as Moody’s highlighted the potential of Paraguay’s emerging green fertilizer sector as a key contributor to the nation’s economic growth. ATOME’s flagship project, the 145MW Villeta Project in Paraguay, is set to become one of the largest renewable fertilizer production facilities in the Western Hemisphere when it begins operations in 2027. This facility is poised to play a crucial role in Paraguay’s green energy and agricultural sectors, furthering the country’s commitment to sustainable development.

James Spalding, President of ATOME Paraguay, expressed his optimism about the rating upgrade, stating, “This most welcome and deserved upgrade to Paraguay’s international financial standing further vindicates ATOME’s strategic decision to select the country as home to its first flagship projects. The fact that Moody’s specifically mentioned green fertiliser production as a driver of Paraguay’s future financial growth underlines the importance of our projects to the country.”

Moody’s recognition of the potential impact of green fertilizer production is a testament to the strategic importance of ATOME’s initiatives in Paraguay. The Villeta Project not only aligns with global trends toward sustainable agriculture but also positions Paraguay as a key player in the renewable energy market. As the world increasingly turns to green solutions, ATOME Energy’s investments in Paraguay stand to benefit from the country’s enhanced financial credibility and growing focus on sustainable development.

This upgrade is expected to attract more foreign investment to Paraguay, further boosting the economy and reinforcing the country’s reputation as a stable and attractive destination for international business. For ATOME Energy, it solidifies the company’s role as a pioneer in the green energy sector, with projects that are critical to both the local economy and the broader global shift towards sustainability.

Source: Proactive Investors