Fitch lowers Wielkopolska

Fitch Ratings said it downgraded the Polish region of Wielkopolska's long-term local-currency issuer default rating to A- from A.

The outlook is stable.

The downgrades follow the recent downgrade of Poland's long-term local-currency issuer default rating, Fitch explained.

The region’s ratings are constrained by the sovereign’s ratings and only in exceptional circumstances can a local or regional government be rated higher than the sovereign, the agency said.

The region’s national long-term rating could be subject to changes following potential recalibration of the national rating scale, Fitch added.

The region also has a long-term foreign-currency issuer default rating of A-, short-term foreign-currency issuer default rating of F2 and national long-term rating of AAA(pol).

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