Fitch affirms PWiK

Fitch Ratings said it affirmed Przedsiebiorstwo Wodociagow i Kanalizacji Sp. z oo, Olsztyn (PWiK)'s national long-term rating of BBB(pol) and national short-term rating of F3(pol).

The outlook remains stable.

The affirmation reflects the company's substantial progress with the implementation of the large Olsztyn water and sewage investment project, Fitch said.

This development reduces significantly the completion risk of the construction works and reinforces the agency's expectation that the whole project will be completed prior to its deadline, the agency said.

The ratings also consider its low risk business profile, its monopoly position in Olsztyn for essential water services and its experienced senior management team, Fitch added.

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