Fitch affirms Koszalin rating at BB+(pol)

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

Fitch said the rating reflects the city's improving economy, increasing revenue from income taxes and the implementation of a cost-rationalization program in education.

However, the rating takes into account the city's weak operating performance, low self-financing capacity, poor debt coverage ratios and expected increase of debt, the agency added.

The stable outlook reflects Fitch's expectations that the city's performance will not deteriorate and that the city will control its operating expenditure more tightly.

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