Fitch upgrades 10 Polish governments

Fitch Ratings said it upgraded the national long-term ratings of 10 Polish local- and regional-governments.

The agency also said it upgraded the national long-term ratings of Zaklad Komunikacji Miejskiej w Gdansku Sp. zoo (ZKM) and its 220 million in Polish zloty tram revenue bonds.

The upgrades reflect the recalibration of the Polish national rating scale following the downgrade of Poland's long-term local-currency issuer default rating, Fitch said.

The upgraded ratings include Gdansk’s national long-term rating to AA+(pol) from AA(pol), the city of Gliwice’s national long-term rating to AA+(pol) from AA-(pol), the region of Mazowieckie’s national long-term rating to AA+(pol) from AA(pol), the city of Szczecin’s national long-term rating to AA+(pol) from AA-(pol), ZKM Gdansk’s national long-term rating to AA-(pol) from A+(pol) and ZKM Gdansk's tram revenue bond program’s national long-term rating to AA(pol) from AA-(pol).

The agency also upgraded the City of Rybnik’s national long-term rating to AA+(pol) from AA-(pol), the city of Bydgoszcz’s national long-term rating to AA(pol) from A+(pol), the city of Rzeszow’s national long-term rating to AA-(pol) from A+(pol), the city of Torun’s national long-term rating to A+(pol) from A(pol), the city of Kielce’s national long-term rating to A+(pol) from A(pol) and the municipality of Ostrow Wielkopolski’s national long-term rating to A+(pol) from A(pol).

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