FITCH placed EUROHOLD's rating under observation

15 July 2019 — Andrei Victor
With reference to the agreement that EUROHOLD Bulgaria AD signed to acquire CEZ's assets in Bulgaria, the international credit rating agency FITCH Ratings placed EUROHOLD Bulgaria AD's Rating under observation.

"Fitch Ratings has placed EUROHOLD Bulgaria AD's (EUROHOLD) Long-Term Issuer Default Rating (IDR) and Insurance Company EUROINS AD's (Euroins Bulgaria), EUROINS Romania Asigurare Reasigurare S.A.'s, and Insurance Company EIG Re AD's Insurer Financial Strength (IFS) Ratings on Rating Watch Negative (RWN)", according to the FITCH Ratings' statement.

The RWN follows the announcement that EUROHOLD plans to acquire the Bulgarian assets of the Czech power utility company CEZ a.s. (CEZ assets) for EUR 335 million.

The completion of the transaction is subject to approvals from the Bulgarian Competition Authority and the Bulgarian energy regulator.

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