Fitch assigns Lodz currency BBB+

Fitch Ratings said it has assigned City of Lodz long-term foreign currency and local currency ratings of BBB+ and a national long-term rating of AA-(pol).

All the outlooks are stable.

The ratings on the City of Lodz reflect the city's developed tax base, sound financial management, current satisfactory operating performance and moderate debt levels, the agency said.

Fitch said that the ratings are constrained by a weak economic environment, and newly implemented tax relief to families with children and lower personal income tax rates, which may affect negatively operating revenue and operating performance.

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