Fitch cuts Slovenske elektrarne to BBB-

Fitch Ratings said it downgraded Slovenske elektrarne, AS' long-term issuer default rating and senior unsecured rating to BBB- from BBB.

The outlook is negative.

Fitch said the downgrade and negative outlook reflect the expected increased capital expenditure and delayed time schedule of the Mochovce nuclear power plant's units three and four, as well as weakening electricity market fundamentals in the central European region, which will likely affect Slovenske elektrarne's operating cash flow in the coming years.

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