Fitch revises Tauron view to stable

Fitch Ratings said it revised Tauron Polska Energia SA's outlook to stable from negative and affirmed the long-term foreign and local currency issuer default ratings at BBB.

Fitch said the outlook revision reflects Tauron's measures to support its financial profile over the next five years, including a reduction of long-term planned capex and management's plan of no dividends until 2019.

The stable outlook also reflects the reduced risk of covenant breach and improved medium-term liquidity since the 2015 fourth quarter when the outlook was revised to negative.

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