Sale of PKO BP stake is credit positive for Poland: Moody's
January 29, 2013
Poland's recent sale of a stake in PKO BP bank for PLN 5.24 billion is credit positive, rating agency Moody's said in a report.
"The sale is credit positive for the sovereign because the proceeds buffer its cash position and decrease the need for debt issuance," Moody's said.
The sale may also help accelerate the investment support program Poland has recently launched, Moody’s added.
Last Wednesday, Poland sold a 2% stake in PKO BP, while special purpose bank BGK unloaded its full 10.2% stake in country's largest lender.