S&P: Krakow outlook positive

Standard and Poor's said it revised the outlook on the City of Krakow to positive from stable, owing to good economic growth prospects expected to strengthen financial performance.

The BBB+ long-term issuer credit rating was affirmed.

S&P said the rating on Krakow reflects its sound financial performance, management's commitment to ambitious long-term investment planning while pursuing a prudent financial policy and the continuing growth of the city's strong and diversified economic base, which supports the inflow of taxes.

The rating is constrained by the city's limited financial flexibility and the likelihood that debt will grow, the agency said.

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