Business Wire

PPC Upgraded to ‘B’ with ‘Stable’ Outlook by S&P

Share

In its annual research update released on 27 November 2020, S&P upgraded PPC’s stand-alone credit profile (SACP) upward by two notches to ‘B’ from ‘CCC+’, resulting in an overall upgrade of the long-term credit rating of PPC to ‘B’ from ‘B-‘.

According to S&P the two notch upgrade in PPC’s standalone corporate rating confirms that the Company’s strategic repositioning and the improved Greek energy market fundamentals have transformed its competitive position, reducing past concerns over its liquidity and long-term sustainability.

The ‘Stable’ outlook underscores S&P’s expectation that PPC will continue to deliver on its transformation plan, with solid liquidity and improved margins. PPC’s strategic plan to convert its generation mix toward lower carbon dioxide (CO2) emissions improve its fleet competitiveness and long-term prospects.

As mentioned in their report, S&P expects a substantial increase in EBITDA and improvement in credit metrics on the back of higher profitability as PPC accelerates the closure of its lignite generation plants and shifts its competitive position in the retail market.

Contact information

Sofia Dimtsa
Corporate Affairs & Communications Director
PUBLIC POWER CORPORATION S.A.
T: +302105293038
M: +306978778998
Fax: +30 2105241300
E-mail:s.dimtsa@dei.com.gr

About Business Wire

Business Wire
Business Wire
24 Martin Lane
EC4R 0DR London

+44 20 7626 1982http://www.businesswire.co.uk

(c) 2018 Business Wire, Inc., All rights reserved.

Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.

Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

Xsolla Establishes New Games Industry Collective, Xsolla Diamond Club27.1.2021 16:32:00 CETPress release

Xsolla, the game commerce company powered by Transaction Engine and Business Engine to help developers and publishers market, sell, connect and optimize their games globally, is now accepting new members to the Xsolla Diamond Club, a professional community of like-minded video game developers and publishers looking to build successful businesses who can connect, learn proven methods and solve shared challenges. Membership to the collective is open to Xsolla clients and potential new partners. Diamond Club members can collaboratively tackle problems around funding, launching, distribution and monetization. To welcome new members, Xsolla is providing free tickets to upcoming sponsored virtual trade shows in 2021. Prospective members can apply to select the event that they would like to attend. After attending their first show, members will also have the benefit of purchasing discounted tickets to 40+ other future events in 2021, including: Taipei Game Show – January 28-31 Pocket Gamer –

C3 AI Reinvents No Code AI with the Introduction of C3 AI Ex Machina27.1.2021 15:26:00 CETPress release

C3 AI (NYSE: AI), the world’s leading provider of enterprise AI software, today announced the general availability of C3 AI® Ex Machina, a next-generation predictive analytics application that empowers anyone to develop, scale, and produce AI-based insights without writing code. Analysts, operators, and subject matter experts across all industries and business functions are increasingly required to develop predictive and prescriptive insights compiled from vast and disparate datasets. While there are many no-code tools available that lower the barrier for users to build ML models and perform data analysis, none provide end-to-end capabilities that enable them to capture and process the volume and variety of data required, automatically generate interpretable AI models, and productize, deploy, and scale the results across their company. Current predictive analytics tools are typically complicated to use and limit the ability of their insights to drive real business outcomes. C3 AI Ex Ma

Philip Morris International Named to the 2021 Bloomberg Gender-Equality Index, Recognizing Company’s Commitment to Advancing Gender Equity27.1.2021 14:18:00 CETPress release

Philip Morris International Inc. (PMI) (NYSE: PM) has today been added to the 2021 Bloomberg Gender-Equality Index (GEI) for its transparency in gender reporting and advancing women’s equity. This recognition underscores PMI’s work to progress gender equity in the workplace and to ensure equal opportunities for all employees. “I am delighted that PMI has been named to the 2021 Bloomberg Gender-Equality Index for our focus on advancing gender equity,” said Silke Muenster, Chief Diversity Officer at PMI. “We count on inclusion to better our organization and believe everyone has an important role to play in making PMI a more inclusive and diverse employer. From striving to improve our gender balance at all levels to maintaining our global leadership on equal pay, our efforts are not only an essential part of being a responsible corporate citizen and contributing to our shared global sustainability goals but also crucial to our progress toward delivering a smoke-free future.” The Bloomberg

Coty Announces Consolidation of Fragrance Manufacturing Operations with Intended Closure of Site in Cologne, Germany27.1.2021 14:10:00 CETPress release

Coty Inc. (NYSE: COTY), one of the world’s leading beauty companies today announced the planned closure of its manufacturing site in Cologne, Germany. The move comes as Coty consolidates global fragrance operations. The Cologne site currently employs approximately 300 people and produces a range of fragrance products. The closure, which will occur in stages, will be preceded by the completion of all appropriate legal processes and is expected to be completed by Summer 2022. Richard Jones, Chief Global Supply Chain and R&D Officer at Coty, said: “We have taken this difficult decision to consolidate our fragrance manufacturing capacity in order to increase the efficiency of our operations. Coty is the world’s leader in fragrance, but our network has been operating over-capacity in recent years and the considerable impact of COVID-19 has accelerated the need to take action. This move will address the imbalance to increase our competitiveness and ensure we fully leverage our scale and rema

UnitedLex Integrates Microsoft Cloud to Globally Scale Digital Transformation of Legal Services27.1.2021 14:00:00 CETPress release

UnitedLex, a leading technology and legal services company, has integrated Microsoft Cloud services to globally scale UnitedLex Vantage, a holistic, turnkey technology platform built to revolutionize the customer experience and transform the legal function into a first-class digital citizen. UnitedLex has integrated Microsoft solutions into its software portfolio since 2008 and has deep experience working closely with Microsoft. UnitedLex Vantage delivers a flexible, secure, and scalable platform, powering all enterprise legal workflows. Vantage comes with a vastly reduced implementation time (a matter of days versus months), a 20 percent increase in work efficiency, significant cost savings across overall legal and IT spend, and most crucially: new revenue opportunities for the business. UnitedLex Chief Technology Officer Sean Jennings said, “We are pleased to deepen our longstanding relationship with Microsoft. The Vantage platform represents a substantial investment for UnitedLex to

Western Union Recognized with Inclusion in 2021 Bloomberg Gender-Equality Index27.1.2021 14:00:00 CETPress release

Western Union (NYSE: WU), a global leader in cross-border, cross-currency money movement and payments, today announced that it is one of 380 companies globally included in the 2021 Bloomberg Gender-Equality Index (GEI). The GEI measures gender equality across five pillars: female leadership and talent pipeline, equal pay and gender pay parity, inclusive culture, sexual harassment policies, and pro-women brand. It is Western Union’s second consecutive year appearing in the Index. “Being recognized in the Bloomberg GEI is testament to Western Union’s passion for and commitment to diversity, equity and inclusion,” said Hikmet Ersek, Western Union’s President and Chief Executive Officer. “As a truly global brand with a diverse and multi-cultural stakeholder base, we have been committed to build an inclusive culture that we believe is critical for our organizational health and innovation power, and ultimately, our performance and the company’s future success.” The GEI brings transparency to

JPMorgan Chase to Launch Digital Consumer Banking in the U.K.27.1.2021 13:00:00 CETPress release

JPMorgan Chase (NYSE: JPM) today announced it will offer U.K. consumers a completely new banking choice when it launches a digital retail bank in the coming months. Using the Chase brand, the bank will provide products and features tailored to meet the needs of customers in the U.K., delivered via an innovative mobile app. “We are bringing Chase to the U.K. because we want to provide customers with a new banking choice – one that will enable them to benefit from a simple and exceptional banking experience, built on the significant capabilities of JPMorgan Chase,” said Gordon Smith, CEO of Consumer & Community Banking and co-President of JPMorgan Chase. “The U.K. has a vibrant and highly competitive consumer banking marketplace, which is why we’ve designed the bank from scratch to specifically meet the needs of customers here.” Sanoke Viswanathan has been appointed CEO of the digital bank having previously been Chief Administrative Officer and Head of Strategy at J.P. Morgan’s Corporate