Fitch affirms Olsztyn

Fitch Ratings said it affirmed Olsztyn's national long-term rating at BBB+(pol).

The outlook is stable.

The rating reflects the city's satisfactory budgetary performance, as well as low direct and indirect debt, the agency said.

The rating also considers the weaker local economy relative to the national economy, an expected increase of debt level and further budgetary pressure due to the economic crisis and upcoming local elections, Fitch said.

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