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Current Report No. 20/2020

21.05.2020 00:00

Revision of the ratings granted by the Fitch Ratings agency

TAURON Polska Energia S.A. (“Issuer”) informs that on May 21, 2020, Fitch Ratings agency (“Fitch”) revised the ratings granted to the Issuer in such a way that selected ratings were affirmed unchanged, while some ratings were downgraded.

The full list of rating actions is presented by the Issuer below:

1. Long-term foreign and local currency IDRs were downgraded to “BBB-” from “BBB”, stable outlook,
2. Short-term foreign and local currency IDRs were affirmed at “F3”,
3. National long-term rating was downgraded to “A(pol)” from “A+(pol)”, stable outlook,
4. Foreign currency senior unsecured rating of EUR 500 million Eurobonds was downgraded to “BBB-” from “BBB”,
5. EUR 190 million hybrid bonds (European Investment Bank – “EIB”) rating was downgraded to “BB” from “BB+”,
6. PLN 750 million hybrid bonds (EIB) rating was downgraded to “BB” from “BB+”,
7. PLN 400 million hybrid bond program and hybrid bond issue (Bank Gospodarstwa Krajowego S.A.) rating was downgraded to “BB” from “BB+”, while the national rating of the same program and bonds was downgraded to “BBB(pol)” from “BBB+(pol)”.

Fitch report is available on the website: www.fitchratings.com

Art. 17, section 1 of the MAR Regulation – inside information.
 

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