Fitch rates Electus bond B-

Fitch Ratings said it assigned Electus SA's 80 million Polish zloty bond issue a final long-term local-currency rating of B-, a national rating of B+(pol) and a recovery rating of RR4.

The bonds will be issued under Electus's 100 million Polish zloty senior unsecured debt issuance program, which also been assigned a final long-term local-currency rating of B- and a national rating of B+(pol) and will be due in September 2011. The proceeds of the issue will be used to fund Electus's corporate activities.

The company's other ratings include a long-term foreign-currency issuer default rating of B-, long-term local-currency issuer default rating of B-, short-term foreign- and local-currency issuer default ratings of B, national long-term rating of B+(pol) and national short-term rating of B(pol).

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