CEZ, a.s. - Credit Update - 2009/10/19 - Fitch Research

Report title: CEZ, a.s.

from Fitch Research
2 page (1825 word) report published Oct 19, 2009

Price $165.00 available for immediate download

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...The ratings reflect CEZ, a.s.'s (CEZ) strong business profile, underpinned by the group's leading position and vertical integration in the Czech power market, the company's main market. CEZ has low financial leverage, with net debt to last 12months EBITDA of 0.9x at endJune 2009. Management plans to optimise the company's capital structure by increasing debt in the coming years to fund rising capital expenditure and regional acquisitions. However, CEZ's medium term goal is for net debt to EBITDA not to exceed 2.0x2.5x. This limit is commensurate with the `A' rating, which is reflected in the Stable Outlook....

Report Type:

Credit Update

Company(ies):

CEZ a.s., CEZ Finance BV

Ticker(s):

BAACEZ

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Fitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets.

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