Moody's: Polski Koncern Naftowy view positive

Moody's Investors Service said it changed the outlook for Polski Koncern Naftowy Orlen SA to positive from stable and affirms its Ba1 issuer rating.

Concurrently, Moody's upgraded the baseline credit assessment to Ba2 from Ba3.

Moody's said the action reflects the sustained recovery in operating performance and financial metrics reported by the company in the past 18 months despite the challenging operating conditions persisting within the European downstream sector.

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