Fitch rates Opole BBB-

Fitch Ratings said it assigned a long-term foreign-currency issuer default rating of BBB- to Polish city of Opole.

Fitch also said it affirmed Opole's long-term local-currency issuer default rating at BBB- and the national long-term rating at A(pol).

The outlooks are stable.

The ratings reflect the agency's unchanged view that Opole's operating performance and debt ratios will remain in line with BBB- rated peers over the medium term, Fitch said.

The ratings reflect the city's low debt burden and lower appetite for new debt than BBB category peers, the agency said.

Fitch also projects that the city's debt service and debt payback ratios will remain healthy in the medium term despite expected debt growth.

The operating balance is expected to be 1.3x higher than debt servicing and direct debt-to-current balance to hover between eight and nine years, well below the city's final debt maturity of up to 18 years, the agency said.

© 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.