Fitch Ratings affirmed Energa SA's rating
Belongs to:
- Current reports
Current Report No. 44/2024
Date: 4 December 2024
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 4 December 2024 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 application of the Parent and Subsidiary Linkage Rating Criteria, under which the Agency continues to equalize 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 its 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.