Fitch lifts Wroclaw to A-

Fitch Ratings said it upgraded the Polish City of Wroclaw's long-term foreign- and local-currency ratings to A- from BBB+.

The outlook is stable.

The agency said the upgrade reflects the city's strong and improving budgetary performance, its wealthy economy that supports growth of tax bases and its efficient operational/strategic planning and management.

The ratings take into account the pressure on capital expenditure and expected increase of debt, Fitch noted.

The stable outlook reflects the agency's expectations that the city will maintain high and satisfactory current balances and that the anticipated debt increase will remain under control, i.e. debt will not exceed 1.1 billion Polish zloty by 2011.

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