Fitch lifts Opole to positive

Fitch Ratings said it revised the Polish City of Opole's national long-term rating outlook to positive from stable and affirmed the rating at BBB(pol).

The revision reflects the city's continued satisfactory operating performance and expectations of an operating margin of at least 10% in the medium-term, Fitch said, providing healthy debt coverage ratios despite projected debt growth.

The outlook revision also considers the city's commitment to curb opex growth and local tax leeway, Fitch said.

The rating could be upgraded if the city continues to maintain a satisfactory and stable operating performance with the margin not lower than 10%, the agency said, and healthy debt coverage ratios despite a projected increase of debt.

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