Fitch gives Polska Grupa bonds AA-(pol)

Fitch Ratings said it assigned PGE Polska Grupa Energetyczna SA's upcoming domestic bonds an expected senior unsecured national rating of AA-(pol)(EXP).

The upcoming bonds will be issued within the PLN 5 billion bond issue program. The bonds will constitute senior unsecured obligations of Polska Grupa. There are no financial covenants included in the bond documentation.

Fitch said Polska Grupa's ratings reflect the group's vertically integrated operations in the Polish electricity market, its dominance in power generation (38% of the country's generation) and its strong position in electricity distribution and supply (26% share).

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