Fitch rates Plock BBB+

Fitch Ratings said it assigned the city of Plock long-term foreign- and local-currency ratings of BBB+. The national long-term rating was upgraded to AA-(pol) from A+(pol).

The outlook is stable.

Fitch said the upgrade reflects Plock's continued sound operating performance, fast-growing tax revenue, and healthy debt servicing and debt payback ratio.

Ratings also consider the projected increase of debt and Plock's dependence on the chemical sector as the main employer and contributor to the city's budget, the agency noted.

© 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.