Poland's KGHM sees debt/EBITDA ratio rising in 2016

Mon May 16, 2016 7:48am EDT
 
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WARSAW May 16 (Reuters) - Poland's leading copper producer KGHM Polska Miedz SA may experience a rise of its net debt to adjusted EBITDA ratio above 1.5 percent this year, KGHM's Chief Financial Officer Stefan Swiatkowski said on Monday.

"Our net debt to adjusted EBITDA amounted to 1.5 times at first quarter end versus 1.4 percent a year earlier. We treat this level as safe, although we expect it will rise this year," Swiatkowski told reporters.

KGHM also said it does not expect any need to create new impairments now.

(Reporting by Adrian Krajewski; Writing by Marcin Goclowski; Editing by Wiktor Szary)