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Risen rating of CEZ Power Company

23. 6. 2005

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Risen rating of CEZ Power Company

Moody´s, a credit rating provider, has raised the long-term financial strength rating of the Power Group CEZ to a new, A3 category, from the previous Baa1. Standard & Poor´s raised the rating of CEZ as well this month, when it moved the rating outlook in the BBB+ category from "table" to "positive".

"It is another important signal that shows we are taking the right way. Today, CEZ represents not only itself, but also the domestic industry. This fact is even more important for the state is the majority owner. That means citizens, who benefit from the stability and excellent economic results of the company by tax payments, job opportunities at home and abroad, orders for domestic suppliers and support of regions," said Martin Roman, Chairman of the Board and CEO of CEZ.  

The designated rating results from the position of CEZ on the electricity markets in Central Europe and, due to the acquisitions in Bulgaria and Romania, also on the markets in South-Eastern Europe.

CEZ confirms, that way, its position in the Czech industry. It is the biggest tax payer contributing to the state budget and the most profitable Czech company.

Ladislav Kriz, Press Officer, CEZ, a.s.