Fitch affirms Myslenice

Fitch Ratings said it affirmed the Polish municipality of Myslenice's national long-term rating at BBB(pol).

The outlook is negative.

The affirmation reflects the limited financial flexibility of its budget, high capex pressure, growing debt and weakening debt coverage ratios, the agency said.

The rating also factors Myslenice's long-term debt horizon, utilization of preferential loans in financing capital expenditures and the further improvement of its debt structure if Myslenice carries out the planned further extension of its debt maturity in 2012, Fitch said.

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