Rating

PZU and PZU Życie are regularly rated by Standard & Poor’s Ratings Services (S&P). As at the date of the report, both companies had the financial strength rating and the credit rating at the A level, with a stable outlook.

PZU and PZU Życie are regularly rated by Standard & Poor’s Ratings Services (S&P). The rating assigned to PZU and PZU Życie results from an analysis of the financial information, competitive position, management and corporate strategy as well as country financial situation. It also includes outlook, i.e. an assessment of the future position of the Company in the event of specific circumstances. As at the date of the report, both companies had the financial strength rating and the credit rating (awarded by S&P on 16th July 2009) at the A level, with a stable outlook. This is the top S&P rating available for a Polish company. The long-term credit rating in the local currency as at the date of the report was A with a stable outlook, while the credit rating of Poland for a foreign currency to A- with a stable outlook. This is the top S&P rating available for a Polish company. The long-term credit rating in the local currency as at the date of the report was A with a stable outlook, while the credit rating of Poland for a foreign currency to A- with a stable outlook.

On 26th November 2013 S&P put PZU on its CreditWatch list with a negative outlook. This was related to a change in the rating methodology linking the company’s rating with the country’s long-term rating for debts in foreign currencies to the risk of which the company is particularly exposed.

In the announcement of 25th March 2014 the S&P agency confirmed PZU’s rating position at the level of A with a stable outlook. It means that PZU successfully went through the rating process based on new criteria and currently has the financial strength rating higher than the rating for Poland for debt in foreign currency.

On 20th June 2014, Standard&Poors’s awarded a rating of “A-” for unsecured debt to the eurobonds issued by PZU Finance AB.

Rating of PZU

CurrentlyPreviously
Company nameRating and outlookDate on which the rating was
awarded / updated
Rating and outlookDate on which the rating was
awarded / updated
PZU
Financial strength rating A /stable/ 25th March 2014 A /CreditWatch/ 26th November 2013
Credit rating A /stable/ 25th March 2014 A /CreditWatch/ 26th November 2013
PZU Życie
Financial strength rating A /stable/ 25th March 2014 A /CreditWatch/ 26th November 2013
Credit rating A /stable/ 25th March 2014 A /CreditWatch/ 26th November 2013

Rating of the Republic of Poland

CurrentlyPreviously
CountryRating and outlook   Date on which the rating
was awarded / updated 
Rating and outlookDate on which the rating
was awarded / updated
Republic of Poland
Credit rating
(long-term in local currency)
A
/positive/
2nd February 2015 A
          /positive/           
8th August 2014
Credit rating
(long-term in foreign currency)
   A -
   /positive /     
2nd February 2015 A-
/stable/
8th August 2014
Credit rating
(short-term in local currency)
  A - 1
       /positive/         
2nd February 2015 A–1
/stable/
8th August 2014
Credit rating
(short-term in foreign currency)
A - 2
/positive/   
2nd February 2015 A-2
/stable/
8th August 2014