Standard & Poor's, a rating firm, has assigned an A credit rating to PZU, the state-controlled insurance giant

Standard & Poor's, a rating firm, has assigned an A credit rating to PZU, the state-controlled insurance giant. Standard & Poor's, a rating firm, has assigned an A credit rating to PZU, the state-controlled insurance giant. PZU president Cezary Stypułkowski welcomed the news, saying the company enjoys the highest rating for any financial institution in the Central and Eastern European region. He also pointed out that PZU debt is rated on a par with government bonds. But the company could still face a bumpy road ahead, as Eureko, a Dutch strategic investor, is taking its conflict with the government over the ownership of the firm to the court of arbitrage in Stockholm. Recently, the State Treasury reneged on its promise to sell an additional 21% stake in PZU, which would give Eureko control over the company. The government says Eureko lacks the necessary funds to complete the transaction and its case recently received a boost when the Insurance and Pension Funds Supervisory Commission (KNUiFE) refused to give regulatory approval for the transaction due to a lack of proper funding on the part of Eureko. The company, however, dismissed the decision as "utter nonsense" and "blatant political manipulation."