Fitch affirms Olsztyn

Fitch Ratings said it affirmed the Polish City of Olsztyn's long-term foreign- and local-currency ratings at BB+ and long-term national rating at BBB+(pol).

The outlook is stable.

The ratings reflect the expected gradual improvement in operating performance in the medium term, which should lead to a satisfactory operating balance to cover growing debt service, Fitch said.

The ratings also consider the pressure on the city's budget stemming from municipal companies if they start their investments in 2013 to 2014, the agency said, as well as Olsztyn's low liquidity.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.