S&P affirms Ostrava

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

The outlook is stable.

The agency said that the ratings reflect the city's prudent management, sound financial performance, stabilized debt levels, adequate liquidity and expected inflow of investments.

The ratings are constrained by Ostrava's limited revenue flexibility, which is typical for all Czech cities, high unemployment and considerable concentration in heavy industry, the agency added.

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