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 debt of those companies in 2020 will reach PLN 60 billion from the current PLN 45 billion. Back in 2012, the debt amounted to PLN 30 billion.