Locked content Fitch: Article 7 procedure could affect future EU subsidies

The European Commission’s recommendation that Article VII procedures should be launched against Poland should not have a material short-term impact on growth or public finances, but can affect the negotiations for the next EU funding cycle, Fitch Ratings agency said. “Cuts in EU funds and/or a...

Locked content BZ WBK takeover of Deutsche Bank Polska rating neutral – Fitch

Fitch rating agency analysts assume that the acquisition of a part of Deutsche Bank Polska will not affect the credit rating of BZ WBK, due to the small scale of transactions and the planned increase in BZ WBK’s capital in connection with the acquisition. “The transaction will increase BZ WBK&...

Fitch affirms Poland A- rating, outlook stable

Rating agency Fitch has decided to keep Poland’s A- rating and kept stable outlook unchanged. “Poland’s ‘A-‘ ratings reflect its strong macro fundamentals, supported by a sound monetary framework and solid banking sector. The ratings are constrained by weak GDP per capita rel...

Power sector might not be able to finance nuclear plant – Fitch

According to ratings agency Fitch, Polish state-owned utilities have no room to increase their debt after 2020 to finance large investments. “Beyond 2020, the four power firms will have no room to increase debt to finance large investment projects,” Fitch Ratings director Arkadiusz Wicik told the Po...

Locked content Polish power sector to issue PLN 33 bln in debt by 2020 – Fitch

Polish utilities will issue PLN 33 billion in new debt by 2020, Fitch Ratings agency wrote in its report. The forecasts covered six state-owned companies PGE, Enea, Tauron, PGNiG, PKN Orlen, and Energa. Out of that amount, PLN 17 billion will be earmarked for debt financing According to Fitch the de...

Fitch increases Poland’s GDP growth forecast to 4.4% in 2017

GDP growth will come in at 4.4 percent in 2017, then slow down to 3.6 percent in 2018 and to 3.2 percent in 2019, according to the latest projections by the Fitch ratings agency. Fitch increased GDP growth projections by 0.4 pp for 2017 and for 2018, and maintained its projection for 2019, compared ...

Locked content Fitch: CEE banks to see marginal improvement

According to rating agency Fitch, the banking sector in the CEE region, particularly in Poland, Romania, and Czechia should see a marginal improvement in overall profitability, as funding, assets quality, and capitalization metrics should remain healthy. “We expect faster credit expansion in 2018 on...

Locked content FX mortgage bill neutral for banks’ ratings – Fitch

Presidential draft bill on FX mortgage conversion shouldn’t have much impact on Polish banks and is seen as rating’s neutral according to rating agency Fitch. “Losses at Polish banks under the latest plans to reduce exposure to foreign-currency mortgages should have little impact on ratings for most...