Fitch ups Olsztyn to BBB+

Fitch Ratings said it upgraded the Polish City of Olsztyn's national long-term rating to BBB+ (pol) from BBB(pol).

Following the upgrade, the outlook is stable.

The rating upgrade reflects the city's satisfactory and improving budgetary performance, comfortable debt coverage ratios and a well diversified and developing local economy, Fitch said.

The rating also takes into account a need to further improve the city's budgetary planning by including more forecasts, the agency added.

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