Fitch affirms Czestochowa

Fitch Ratings said it has affirmed the Polish City of Czestochowa's long-term foreign and local currency ratings at BBB.

The outlooks are stable.

The ratings reflect the city's long history of sound operating performance and prudent financial management, moderate debt and debt repayment ratio, and high liquidity, the agency said.

However, they also take into account budgetary pressures stemming from the economic slowdown and cuts in personal income tax rates since 2009 as well as from the city's indebted and loss-making hospital, Fitch added.

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