Fitch affirms Kielce

Fitch Ratings said it affirmed Polish City of Kielce's national long-term rating at A-(pol) with a stable outlook.

The rating reflects the City of Kielce's stable and satisfactory operating performance, the positive effects of the new financial system on the city's budget and an improving national economy, Fitch noted.

However, it also takes into account the city's increasing educational spending and high healthcare-sector liabilities, Fitch added.

The stable outlook reflects Fitch's expectations that the city will maintain its satisfactory operating performance and a tight control on operating expenditure, as well as that the financial situation of the healthcare sector will show modest improvement.

The agency said the main weaknesses of the city's budget are high educational spending and excessive healthcare-sector liabilities.

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