Fitch rates Polskie Koleje notes BBB(exp)

Fitch Ratings said it assigned Polskie Koleje Panstwowe SA (BBB/stable) a senior unsecured foreign currency rating of BBB and a planned notes issue an expected rating of BBB(exp).

The planned notes will rank pari passu among themselves and equally with all the issuer's other unsubordinated and unsecured obligations, the agency said.

The notes have a nominal maturity of five years, and Polskie Koleje plans to use proceeds from the notes issue to refinance existing debt obligations, Fitch added.

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