Fitch raises Energa

Fitch Ratings said it upgraded Energa SA's long-term issuer default rating to BBB+ from BBB-, removed it from rating watch positive and assigned a stable outlook.

“The upgrade and removal from RWP mirror a recent similar rating action on Energa's controlling shareholder, Polski Koncern Naftowy Orlen SA (BBB+/stable), whose long-term IDR Fitch upgraded to BBB+ from BBB- and removed from RWP on Nov. 9, 2022,” Fitch said in a press release.

“The upgrade reflects our unchanged view on the company under our "Parent and Subsidiary Linkage Rating Criteria", under which we equalize Energa's rating with that of PKN Orlen,” the agency added.

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