Fitch cuts Myslenice view to stable

Fitch Ratings said it affirmed the Polish municipality (Gmina) of Myslenice's national long-term rating at BBB(pol) and revised the outlook to stable from positive.

The outlook change reflects an expectation that Myslenice's operating performance will weaken in 2009-2010 due to a tax revenue decline that will not be counteracted by adequate cuts in operating expenditure, Fitch said.

And, debt is likely to grow if the municipality starts to implement investment in the sewerage system, which could weaken existing debt repayment and service ratios, the agency said.

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