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Fitch Ratings affirms PGE’s rating and assigns a rating for Eurobonds program

  • No. of the report: 25/2014
  • Report date: 23.05.2014
  • Report legal ground: Art. 56 section 1 p. 2 of Act on Public Offering – current and periodic information

Contents of the report

The Management Board of PGE Polska Grupa Energetyczna S.A. (“PGE”) discloses that on May 23, 2014 Fitch Ratings has affirmed PGE's long-term foreign and local currency Issuer Default Ratings (IDRs) at BBB+ with a Stable Outlook. Fitch Ratings has also assigned a foreign currency senior unsecured rating of 'BBB+' to PGE Sweden AB (publ)'s EUR 2,000,000,000 billion Euro Medium Term Note Programme, about which PGE informed in its current report no. 24/2014 dated May 22, 2014.

According to a Fitch Ratings definition, BBB ratings indicate that expectations of default risk are currently low. The capacity for payment of financial commitments is considered adequate but adverse business or economic conditions are more likely to impair this capacity.

The full content of the statement issued by Fitch Ratings is available on PGE’s website.

Legal ground: § 32 in connection with § 5 section 1 point 26 of the Regulation of the Minister of Finance dated February 19, 2009 on current and periodic information published by issuers of securities and on conditions under which such information may be recognized as being equivalent to information required by the regulations of law of a state which is not a member state. (Dziennik Ustaw of 2009, No. 33, item 259, as amended).
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