Zabrze

The affirmation reflects Fitch's view that Zabrze's operating performance will remain modest.

15 February 2011 - Fitch changed Monday to "negative" from "stable" the outlook on the Polish city of Zabrze while affirming its long-term foreign and local currency ratings at BBB- and national long-term rating at A-(pol).

EC Zabrze, employing 268, had sales of EUR20m in 2009, when ZEC Bytom, with 245 employees, reported revenues of EUR19m, the buyer said.

Until 2019 the city's capital spending on its shareholdings will be high, at about PLN50 million annually, reducing Zabrze's capex financing flexibility for other purposes.

17 February 2010 - Fitch upheld today its long-term foreign and local currency BBB- ratings on the Polish city of Zabrze.

In 2009 CEZ launched a preliminary offer for Zabrze and Bytom plants and was allowed to carry out due diligence procedures.