The agency Fitch Ratings has maintained the long-term rating of the ORLEN group at a “BBB+” level with a stable outlook. The agency primarily points to the benefits of consistent diversification and expansion of operations, as well as maintaining solid and stable financial foundations.
The agency stressed that the company’s credit profile is supported by ORLEN’s large operational scale, strong diversification of operation areas, and presence in the energy and gas sector, which favor stable financial flows. In its assessment, the agency also took into account an additional increase in costs in 2024 and planned investment expenditures.
The agency pointed out that the value of the financial indicators it forecasts (including EBITDA/financial leverage) in the upcoming years 2026 and 2027, as a result of high investment expenditures, may significantly increase. However, the company has appropriate tools (hybrid bonds, project finance financing) to counter their overruns. In addition, it emphasized that changes in the company’s Board of Directors may affect a review of the group’s strategy, including its investment plans.
