Fitch affirms Koszalin

Fitch Ratings said it affirmed Poland's city of Koszalin's national long-term rating of BB+(pol) with a stable outlook.

The rating reflects continuing poor budgetary performance, expected increase of debt and weak debt covering ratios, the agency said.

Fitch said the rating takes into account a positive impact already seen from the new financial model on revenue, slightly improving local economy and the implementation of a cost-limiting program in education.

The agency added that local socioeconomic profile is relatively weak with its GDP per capita at 82.9% of the average.

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