Fitch ups Katowice view to positive

Fitch Ratings said it has changed the Polish city of Katowice's outlook to positive from stable.

Fitch said it also affirmed its ratings at long-term foreign currency BBB+ and local currency A-.

The change in outlook reflects Katowice's improvement in its already high margins, continued sound budgetary performance, good liquidity, efficient management, high self-financing capacity and low and manageable debt, Fitch said.

Fitch said it also takes into account the expectation that the city, based on its good budgetary management, will resolve the problems of health care debt and that it will continue to control operating expenditure.

However, Fitch said Katowice needs to control expenditure on education, especially in light of the high and growing share of its financing on this sector.

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