24.10.2014 04:40

​The Management Board of TAURON Polska Energia S.A. ("Company") informs that on 24 October 2014 Fitch Ratings agency ("Fitch") affirmed international long-term foreign and local currency Issuer Default Ratings at "BBB" with Stable Outlook. Fitch also assigned TAURON Polska Energia S.A. international short-term foreign and local currency Issuer Default Rating of "F3", a National long-term rating of "A(pol)" with Stable Outlook and assigned an expected National senior unsecured rating of "A(pol)(EXP)" to a planned bond issue.

According to Fitch the ratings reflect the TAURON Group's leading position in Poland's electricity distribution and strong position in power generation. The ratings benefit from high EBITDA contribution from stable and predictable electricity distribution. At the same time they are constrained by worse financial performance of the generation segment, concentrated generation fuel mix (mostly coal-fired plants) and Fitch's forecasts of a weakening of credit metrics, mostly due to large replacement and expansionary capex in the generation segment.

Article 56 section 1 item 2 of the Act on public offering - current and periodic information

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