Fitch Ratings affirmed Energa SA's rating
Belongs to:
- Current reports
Current Report No. 30/2023
Date: 5 December 2023
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;, "Energa") informs that, on 5 December 2023 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, among others, 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 - 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 long-term senior unsecured rating for the bonds issued by the Company's subsidiary Energa Finance AB (publ): 'BBB+'.
The Agency also affirmed the Company's standalone credit profile at 'bbb-' due to, among others, the Energa Group's solid business profile, with a focus on predictable regulated electricity distribution business.
The full text of the Agency's report is available on Fitch Ratings website. The rating was awarded at the request of the Company.