S&P lifts Ostrava

Standard & Poor's said it raised the long-term issuer credit rating on the Czech city of Ostrava to A+ from A and affirmed the short-term rating at A-1.

The outlook is stable.

The ratings reflect the city's very positive liquidity position, moderate debt burden, solid budgetary performance and limited risks associated with contingent liabilities, S&P said.

The ratings are constrained by the city's limited budgetary flexibility and an economy that still lags national and European peers, the agency said.

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