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 in the Czech Republic (foreign currency A-/stable/A-2; local currency A/stable/A-1).

The outlook is stable.

The ratings continue to reflect the city's sound budgetary performance, prudent debt management and favorable economic prospects, the agency said.

They are constrained, however, by Olomouc's limited revenue flexibility, significant infrastructure needs and low wealth levels compared with the national and EU averages, S&P said.

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