REG - S.N.G.N. Romgaz S.A. - Fitch has revised the Outlook for ROMGAZ Rating

Societatea Nationala de Gaze Naturale Romgaz SAAnnouncement

24/12/2024 09:15

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RNS Number : 2793R  S.N.G.N. Romgaz S.A.  24 December 2024

CURRENT REPORT

In compliance with Law no. 24/2017 regarding Issuers of Financial Instruments
and Market Operations and A.S.F. Regulation no. 5/2018

 

Report date: December 24, 2024

Company name: Societatea Nationala de Gaze Naturale Romgaz S.A.

Address: Medias, 4 Constantin I. Motas Square, Sibiu County - Romania, 551130

Phone/fax no: 004-0374-401020 / 004-0269-846901

Fiscal Code: RO14056826

LEI Code: 2549009R7KJ38D9RW354

Trade Register registration number: J32/392/2001

Subscribed and paid in share capital: 3,854,224,000 RON

Regulated market where the issued securities are traded: Bucharest Stock
Exchange (BVB), London Stock Exchange (LSE)

 

Significant event to be reported:

 

·    Fitch Ratings has revised the Outlook of Rating assigned to S.N.G.N.
Romgaz S.A. from 'Stable' to 'Negative' and affirmed its 'BBB-' Long-term
Issuer Default Rating (IDR)

 

 

Societatea Nationala de Gaze Naturale Romgaz S.A. ("ROMGAZ" / "the Company" /
"the Issuer") informs its shareholders and investors that Fitch Ratings
Limited ("Fitch") has revised the Outlook of the Rating assigned to ROMGAZ
from 'Stable' to 'Negative' and affirmed its 'BBB-' Long-term Issuer Default
Rating (IDR).

 

The revision of the Outlook follows a recent similar action on the sovereign
rating of Romania, dated December 17, 2024. Thus, the revision of Romania's
sovereign Rating Outlook from 'Stable' to 'Negative' determines the similar
revision of ROMGAZ's IDR.

 

Fitch's Rating Action Commentary reiterated that the Rating "reflects Romgaz's
dominant position in Romania's natural gas market, upstream production growth
potential from the Neptun Deep and Caragele reservoir developments and a
conservative financial policy."

 

We remind that the first Rating was assigned to the Company by Fitch on May
21, 2024 and it was object of the Current Report published on the capital
market on May 22, 2024.

 

More details about the Rating Action Commentary are available at:

https://www.fitchratings.com/research/corporate-finance/fitch-revises-romanian-romgaz-outlook-to-negative-affirms-bbb-rating-23-12-2024
(https://www.fitchratings.com/research/corporate-finance/fitch-revises-romanian-romgaz-outlook-to-negative-affirms-bbb-rating-23-12-2024)

 

 

Chief Executive Officer,

Razvan POPESCU

 

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