S&P affirms Ostrava

Standard & Poor's said it affirmed its A- long-term and A-2 short-term issuer credit ratings on the Czech city of Ostrava.

The outlook is stable.

The ratings reflect the city's prudent management, sound financial performance, expected inflow of investments and above-average liquidity, the agency said.

S&P said the ratings are constrained by the city's limited revenue flexibility, which is typical for all Czech cities, increased debt levels, high unemployment and considerable concentration in heavy industry.

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