Fitch Revises City of Kielce's Outlook to Negative

Fitch Ratings-London/Warsaw-09 March 2010: Fitch Ratings has today changed the Polish City of Kielce's Outlooks to Negative from Stable. The ratings are affirmed at Long-term foreign and local currency 'BBB-' and the National Long-term 'A-(pol)', respectively.

Fitch Affirms Poland's PKN at 'BB+'; Off RWN; Assigns Negative Outlook

Fitch Ratings-London/Warsaw-05 March 2010: Fitch Ratings has today affirmed Polish oil refining and marketing company Polski Koncern Naftowy ORLEN S.A.'s (PKN) Long-term foreign and local currency Issuer Default Ratings (IDRs) at 'BB+' and the company's Short-term foreign and local currency IDRs at 'B'. Fitch has simultaneously removed both Long-term IDRs from Rating Watch Negative (RWN), which was assigned on 2 September 2009 due to projections of a substantial erosion of PKN's credit metrics, and assigned Negative Outlooks to the two ratings. Fitch has also affirmed PKN's foreign and local currency senior unsecured ratings at 'BB+', and removed these ratings from RWN.