Fitch affirms Katowice

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

The outlook is stable.

The agency said the ratings reflect Katowice's sound operating performance, high liquidity, strong self-financing capacity and its low debt levels.

The ratings also take into account an expected increase of the city's debt, the indebted health-care sector and pressure on operating expenditure resulting from a projected rise in teachers' salaries in 2009, Fitch said.

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