S&P: Krakow stable

Standard & Poor's said it revised its outlook on the Polish City of Krakow to stable from negative and affirmed its BBB+ long-term issuer credit and senior unsecured ratings on the city.

"The outlook revision is due to Krakow's stabilizing financial position and Poland's economic recovery that should have a positive affect on the city's revenues," said S&P credit analyst Felix Ejgel.

The outlook also incorporates S&P's expectations that Krakow's financial performance has stabilized, with deficits after capital expenditure not exceeding 5%, and that the city's debt burden will not increase in the future.

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