Fitch lifts Koszalin to BBB-(pol)

Fitch Ratings said it upgraded the Polish City of Koszalin's national long-term rating to BBB- (pol) from BB+(pol).

The outlook is stable.

The agency said the upgrade reflects improved operating performance supported by growing operating revenue, a developing local economy and moderate debt level.

The rating continues to take into account the weaker socio-economic profile of the city, the lack of good rail and road connections with other parts of Poland and city's policy to keep tax rates and tariffs at a low level, which may hinder the city's development in the longer term, Fitch said.

© 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.