Fitch gives PWiK BBB(pol)

Fitch Ratings said it has assigned Przedsiebiorstwo Wodociagow i Kanalizacji Sp. z o.o., Olsztyn a national long-term rating of BBB(pol) and a national short-term rating of F3(pol).

The outlook is stable.

PWiK is fully owned by the City of Olsztyn (BBB+(pol)/stable), the agency said, adding that the company's ratings are assessed on a standalone basis with a one notch uplift for city support.

Fitch noted that the ratings reflect PWiK's low risk business profile, its monopoly position in Olsztyn for essential water services, and its experienced senior management team, who have held their positions since 1997 despite numerous political changes in the city.

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