Fitch affirms Kielce

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

The rating reflects Kielce's improved budgetary performance, developing national economy and low debt.

However, the rating also takes into account limited flexibility on operating expenditure, the health care sector's high liabilities and the pressure on debt to increase, the agency noted.

The stable outlook reflects Fitch's expectations that Kielce will be able to control more tightly its operating expenditure and maintain satisfactory operating performance, which is crucial in view of the projected increase in debt.

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