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Fitch Ratings assigns upcoming domestic bonds an expected senior unsecured National Rating

  • No. of the report: 47/2013
  • Report date: 10.06.2013
  • 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 June 10, 2013 Fitch Ratings has assigned PGE an upcoming domestic bonds an expected senior unsecured National Rating of ‘AA-(pol)(EXP)’. PGE’s National Long-term rating of the issuer is ‘AA-(pol)’ with a stable outlook.

According to a Fitch Ratings definition national rating AA determinates that an issuer or bond issue represent very low risk in comparison with other issuers or bond issues in Poland. Risk is only insignificantly higher than risk represented by issuers or bond issues with the highest rankings.

Issue of bonds is planned within bond issue program of up to PLN 5,000,000,000 established on August 29, 2011 (see current report no 35/2011 dated August 29, 2011). Planned aggregate value of the bond issue will amount up to PLN 1,000,000,000. Bonds will be offered in the private placement.

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).