Press releases pg. 166
CEZ a.s. Amendment and Extension of 88,000,000 Guarantee Facility Agreement in favour of European Investment Bank.
CEZ a.s. and Sumitomo Mitsui Banking Corporation Europe Limited ("SMBCE") together with a syndicate of leading International Banks, signed on 8th April 2003, a ?88,000,000 guarantee facility in favour of the European Investment Bank ("EIB").
9. 4. 2003
A change in the organisational structure of the Czech power industry, modelled according to western utilities, has brought forth better rating from Standard and Poor´s agency for CEZ
On April 2, 2003, the international rating agency Standard and Poor´s changed its long-term rating outlook of CEZ company, promoting it from stable to positive, as a result of the completed transaction process of integrating the (state owned) equities in regional distribution companies into the CEZ Group. The rating agency thus confirmed the suitability of this transaction. Standard and Poor´s agency also confirmed the BBB+ rating of CEZ company.
3. 4. 2003
Today, CEZ took over the equity in distribution companies formerly owned by the state
As of today, the shares of regional power utilities are integrated into the CEZ Group. According to the most recent information, all the shares in question were transferred this morning, i.e. within the agreed deadline, and were subsequently properly registered in the accounting systems of the Czech Securities Commission. This means that the project of incorporating distribution companies into the CEZ Group has been concluded approximately one year after the governmental proposal of this merger.