20/2018 Notification of Fitch Ratings upgrade decision
Current Report No. 20/2018
Notification of Fitch Ratings upgrade decision
The Board of Directors of Play Communications S.A. (the “Company”) hereby informs that Fitch Ratings (“Fitch”) has upgraded P4 sp. z o.o. (“P4”), a wholly owned subsidiary of the Company, Long-Term Issuer Default Rating to ‘BB’ from ‘BB-‘, with stable outlook.
In its press release Fitch states that: “The upgrade reflects P4’s strong underlying operating profile including its leading market share, by revenue and subscribers, in Poland’s mobile market, solid cash flow and stability of balance sheet and financial policy following the initial public offering of the Company in 2017. While fixed-mobile convergence has developed some commercial traction for fixed incumbent, Poland is so far proving to be a market where a mobile-only strategy can be successful. This view is underlined by P4’s ascendance from market challenger to market leader in a matter of years and the strength of financial results.”
Full press release of Fitch is attached to this report.
Legal basis: Art. 17 of MAR.