S&P ups Lodz view to positive

Standard & Poor's said it revised its outlook on the City of Lodz, in Poland, to positive from stable based on improved financial indicators.

At the same time, the BBB- long-term foreign and local currency issuer credit ratings were affirmed.

The outlook reflects S&P's expectation that Lodz will be able to continue the improving trend in its financial performance, S&P said.

The ratings on Lodz, the second-largest city in the Republic of Poland (foreign currency BBB+/positive/A-2; local currency A-/positive/A-2) are supported by a low debt burden, the management team's commitment to maintain sound financial indicators and the positive impact of developments in the local economy, S&P said.

The ratings are constrained by the city's still high unemployment, low financial flexibility and high capital spending needs, S&P said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.