Fitch ups Czestochowa view to positive

Fitch Ratings said it has changed the Polish City of Czestochowa's rating outlook to positive from stable.

Czestochowa's long-term foreign and local currency ratings are affirmed at BBB-.

The change reflects an improvement in Czestochowa's operating performance resulting from the positive impact of the new financing system, growth of the national economy and prudent budgetary management.

Fitch also said the change reflects expectations that this trend will continue with the city likely to increase its operating margin and maintain a stable balance before debt variation.

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