Increase in the rating of the Moody's Investors Service agency for CIECH S.A.

Current report no : 72/2014
Report date : 11/28/2014
Abbreviated name : Ciech SA
Subject : Increase in the rating of the Moody's Investors Service agency for CIECH S.A.
Legal basis : Art. 56 section 1 point 2 of the Act on Offering – current and periodic information

Report : 

The Management Board of CIECH S.A. ("the Issuer", "the Company") announced that on 28 November 2014, the Moody's Investors Service rating agency ("Moody’s") announced publication of a report, where it raised the rating awarded at the request of the Company from "B2" to "B1", with a stable prospect.

Moody’s also raised from "B2" to "B1" (stable prospect) the rating awarded to the issue of bearer's secured debentures, denominated in Euro, with maturity date in 2019, which were issued by Ciech Group Financing AB (publ). CIECH S.A. announced the issue of foreign debentures in report no. 60/2012.

The increase of both ratings was justified by Moody’s by an improvement of the quality of the Company's results in 2013 and 2014, which translated to an increase in EBITDA and the value of the generated cash.

The Issuer announced the granting of the ratings in current report no. 52/2012, dated 16 November 2012. 
Legal basis: § 5 section 1 point 26) of the of the Regulation of the Minister of Finance of 19 February 2009 regarding current and periodic information delivered by issuers of securities and on conditions of recognition of information required under non-member state law regulations as equivalent.

Signatures of the Company’s Representatives : Dariusz Krawczyk – President of the Management Board 

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