Fitch affirms Kielce

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

Fitch said it has also affirmed Kielce's national long-term rating at A-(pol) with a stable outlook.

The ratings are based on the city's sound operating performance, currently low debt, and the strong inflow of E.U. funds, which will help the city to finance its investments, Fitch said.

However, the ratings are constrained by the city's weak tax base, limited economic development, low operating revenue and expenditure flexibility, and by indirect risk from the municipal companies' sector, the agency noted.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.