Locked content Fitch keeps PGNiG ratings at BBB- with stable outlook

Fitch Ratings maintained longterm ratings for PGNiG at the BBB- level with a stable outlook, the agency said. “Confirmation of the rating reflects the strong, integrated position of PGNiG on the Polish gas market, low leverage, and solid liquidity. The rating is supported by the regulated gas ...

Locked content Fitch confirms Poznań rating at “A-” level

Ratings agency Fitch confirmed Poznań’s rating at the “A-” level – Poznań magistracy announced on Saturday. “A-” is the highest rating of the Fitch agency that can be obtained by a Polish self-government. The forecast for Poznań is stable. The “A-” rat...

Locked content Jan-Aug revenue from fines down at PLN 313.3 mln

During the period from January to the end of August this year, proceeds from fines fell to PLN 313.3 million. At the same time, in 2017, revenues amounted to PLN 351.2 million, according to Deputy Finance Minister Paweł Cybulski’s response to a parliamentary interpellation. The interpellation ...

Locked content MPK Poznań will get 50 modern low-floor trams

Modertrans will deliver 50 modern low-floor Moderus Gamma trams to MPK Poznań by the end of next year. Moderus Gamma is the latest model of the streetcar made by Modertrans. This is a low-floor vehicle, 32 meters long. It will be able to take 240 passengers. The model offers 56 seats. Two versions o...

Locked content Qumak starts reviewing strategic options

Polish IT and technological company Qumak has begun a review of strategic options after the failure of talks on the recapitalization of the company with PLN 35 million and a merger with Euvic – the company said in a statement. The review is expected to last until October 11. At the beginning o...

Locked content Bank Pekao will issue bonds worth PLN 750 mln

After completing the bookbuilding process, WSE-listed Bank Pekao decided to issue subordinated bonds of B and C series with a total nominal value of PLN 750 million – the bank said on Thursday. The issue date was set for October 15, 2018.   The total nominal value of the issued series B b...

Locked content Chopin Airport served 5.7 mln passengers in July-Sept.

Warsaw Chopin Airport transported around 5.7 million passengers in July-September, which is 0.6 million fewer travelers compared to the same period last year, the airport reported. From the beginning of 2018 until the end of September Chopin Airpor served 13.7 million passengers, of which 12.4 milli...

Locked content Alumetal appoints Marek Kacprowicz new CEO

Aluminum manufacturer’s Alumetal supervisory board appointed Marek Kacprowicz the new CEO for a joint three-year term, the company said on Wednesday. Szymon Adamczyk, who resigned from the CEO position with effect as of September 30, 2018, was appointed to its supervisory board. Capital group ...

Locked content Seniors reach debts of PLN 7.3 billion

The total amount of loans and current bills which seniors did not pay on time has reached PLN 7.3 billion. The main reason for borrowing money is spending it on medications and medical treatment, according to the data of BIG InfoMonitor and Credit Information Bureau (BIK). In the first half of 2018,...

Elon Musk agrees to resign as Tesla’s Chairman

Tesla’s CEO Elon Musk agreed to step down as the automaker’s Chairman in a settlement with the US Securities and Exchange Commission (SEC). Musk needs to pay a $20 million fine. However, he is still allowed to remain in the position of Tesla’s CEO. Musk doesn’t have to admit or den...