S&P affirms Olomouc

Standard & Poor's said it affirmed its A- long-term and A-2 short-term issuer credit ratings on the City of Olomouc, located in the Czech Republic (foreign currency A-/positive/A-2, local currency A/positive/A-1).

The outlook is stable.

According to S&P, the ratings continue to reflect the city's consistently strong budgetary performance, prudent financial and debt management, good economic prospects and low contingent liabilities.

They are, however, constrained by Olomouc's limited revenue flexibility and low wealth indicators compared with the national and E.U. averages, the agency said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.