In Brief: TPSA; Polsat seeks investor; Elektrim Internet subsidiaries

The Standard & Poor's (S&P) rating agency yesterday placed a triple "B" category on long-term corporate credit rating for telecoms giant TPSA on CreditWatch with negative implications. "The CreditWatch placement reflects a potential risk that TPSA could, in the future, be in breach of a financial covenant regarding its EBITDA ratio," said Michael O'Brien, S&P analyst. (Gazeta Wyborcza, p. 28; Reuters) ... Polsat, the largest commercial TV station has set a two-week deadline to choose a potential investor. Among the favorites is Agora, publisher of Gazeta Wyborcza. According to unofficial information Agora is ready to pay $450 million for a 49% stake in Polsat. (Puls Biznesu, p. 4) ... Elektrim's Internet companies are going under. In October 2001, two of its companies, Inter-Net Polska and Polish PhoneSat went bankrupt, which specialized in data transmission. Some of the subsidiaries still exist, although their days are also numbered. (Gazeta Wyborcza, p. 28) A.K.