2017.04.20 17:29 Current Report No. 33/2017
Warsaw, April 20th 2017
Assignation of the rating by Fitch
Current Report No. 33/2017
The Management Board of Polskie Górnictwo Naftowe i Gazownictwo SA (“PGNiG”, “Company”) hereby reports that on April 20th 2017 Fitch Ratings (“Fitch”) agency publicly announced Long-Term Foreign- and Local-Currency Issuer Default Ratings of BBB- with stable outlook assigned to PGNiG, as well as Foreign- and Local currency senior unsecured rating at the same level. Additionally, Fitch agency assigned to the Company National Long-Term rating of A with stable outlook.
The assigned rating of BBB- with stable outlook reflects PGNiG’s integration and strong market position in the Polish gas market, low leverage and adequate liquidity.
According to a Fitch definition BBB ratings are considered as an investment grade and indicate that expectations of default risk are currently medium or low.