Fitch affirms Koszalin

Fitch Ratings said it affirmed the City of Koszalin's national long-term rating at BBB-(pol).

The outlook is stable.

The rating reflects the City of Koszalin's low operating results, weak debt protection ratios, increasing indirect risk and a weak local economy, Fitch said.

However, the rating is supported by an expectation of a recovery of the city's operating performance in 2011 to 2012, the city's sound liquidity and some local tax revenue flexibility, the agency said.

The city's debt is moderate, Fitch said, albeit still growing.

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