S&P: Olomouc view to positive

Standard & Poor's said it revised the outlook on the Czech city of Olomouc to positive from stable and affirmed its A-/A-2 long- and short-term issuer credit ratings on the city.

The ratings reflect the city's positive liquidity position, sound operating budgetary performance and prudent debt management, S&P said.

Limited budgetary flexibility, underdeveloped medium-term financial planning and the pressure on the city's financial and debt indicators caused by a significant investment program constrain the ratings, the agency said.

The city's ambitious investment program will likely strain its overall budgetary performance, S&P added.

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