Moody’s Investors Service upgraded PKN ORLEN’s rating 

PKN ORLEN S.A. ("Company") informs that on 18 August 2022 Moody’s Investors Service (“Agency”) upgraded issuer rating of PKN ORLEN S.A. from the level of Baa2 to Baa1 and also upgraded the baseline credit assessment from baa3 to baa2.

The Agency has also upgraded the rating, from the level of Baa2 to Baa1 for the medium term Eurobonds programme up to the amount of EUR 5 000 000 000 (“EMTN Programme”), established by PKN ORLEN.

Concurrently, the Agency also upgraded the rating, from the level of Baa2 to Baa1, of following Eurobonds:

- EUR500 million maturing in 2028, issued by PKN ORLEN within the EMTN Programme, and

- EUR750 million maturing in 2023, issued by ORLEN Capital AB and guaranteed by PKN ORLEN. 

The outlook on all of today upgraded ratings remains positive.

PKN ORLEN owns 100% of the registered capital of ORLEN Capital AB. 

See also: regulatory announcement no 23/2021 dated 13 May 2021 and no 49/2017 dated 13 April 2017.