Fitch Ratings affirmed Energa SA's rating
Belongs to:
- Current reports
Current Report No. 50/2022
Date: 21 December 2022
Subject: Fitch Ratings affirmed Energa SA's rating
Legal basis: Article 17 (1) of MAR - inside information
The Management Board of Energa SA (_quot;Company_quot;) informs that, on 21 December 2022 Fitch Ratings (_quot;Agency_quot;, _quot;Fitch_quot;) affirmed the Company's long-term foreign and local currency Issuer Default Ratings (IDRs) at 'BBB+' with a stable outlook. The affirmation reflects Fitch's unchanged view on the Company under Agency's _quot;Parent and Subsidiary Linkage Rating Criteria_quot;, under which the Agency equalizes Energa's rating with that of the Company's majority owner - PKN ORLEN S.A.
Fitch also affirmed the following ratings of the Company and its debt:
- long-term national rating: _#8216;AA+(pol)',
- the Company's foreign-currency long-term senior unsecured rating: 'BBB+',
- the Company's long-term rating of subordinated debt: 'BBB-'
- long-term national senior unsecured rating: _#8216;AA+(pol)',
and foreign-currency long-term senior unsecured rating for the bonds issued by the Company's subsidiary Energa Finance AB (publ): 'BBB+'.
The Agency also affirmed Energa SA's standalone credit profile at 'bbb-' due to, among others, the Company's solid business profile, with a focus on predictable regulated electricity distribution business, and strong operational record.
The full text of the Agency's report is available on Fitch Ratings website. The rating was awarded at the request of the Company.