Fitch upgrades Czestochowa

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

The outlook is stable.

The upgrade reflects the city's moderate debt level and low debt financing needs in the medium-term, translating into healthy debt-service ratios, Fitch said.

The ratings also consider the city's good operating performance, which the agency said it expects to continue in the medium-term, prudent management practices and strong liquidity.

The stable outlook takes into account a view that in the medium-term Czestochowa's credit quality will be in line with the city's BBB+ peers, Fitch said.

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