Fitch raises Czech Environmental Fund

Fitch Ratings said it upgraded the Czech Republic-based State Environmental Fund's long-term foreign and local currency ratings to A from A-. The short-term rating has also been upgraded to F1 from F2.

The outlook remains stable.

Fitch said the rating follows the recent upgrade of the Czech Republic's long-term foreign and local currency ratings to A from A- and to A+ from A, respectively. The ratings are based on the strong involvement of the Czech Ministry of the Environment in the fund and the secure income sources of the latter.

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