Fitch upgrades outlook on PKP & PKP Intercity railway operators
February 26, 2013
Poland's state owned railway operator PKP and its unit PKP Intercity enjoyed a credit rating outlook increase to positive from stable, with their long-term issuer default ratings affirmed at 'BBB' and 'BBB-' respectively, Fitch Ratings agency said in a statement.
The revision of the outlooks to positive reflects the agency's revision of the outlook on Poland's Long-Term foreign and local currency IDRs to Positive from Stable on 21 February 2012.
PKP and PKP IC continue to benefit from the strong legal links and the involvement of the company's shareholder, the state Treasury, in the companies' financial and operational functions, Fitch said.