Fitch might lower Koleje Mazowieckie

Fitch Ratings said it placed Koleje Mazowieckie - KM sp z oo's long-term foreign currency issuer default rating of BBB-, long-term local currency issuer default rating of BBB and national long-term rating of A+(pol) on Rating Watch Negative.

The agency also placed the subsidiary Koleje Mazowieckie Finance AB's €100 million senior unsecured notes due in 2016 - rated at BBB- - on Rating Watch Negative given KM's guarantee on the notes.

The negative watch follows the Dec. 18 downgrade of the Polish region of Mazowieckie to BBB from BBB+ with a negative outlook because of the region's weak budgetary performance, stressed liquidity and high debt. Mazowieckie is the sole owner of KM.

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