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Fitch: ZKM Gdansk bond BBB
Fitch Ratings said it assigned Zaklad Komunikacji Miejskiej w Gdansku Sp. zoo's (ZKM Gdansk) 15.04 million Polish zloty revenue bond issue due Dec. 30, 2024, a final long-term local-currency rating of BBB and national long-term rating of A+(pol).
ZKM Gdansk is 100%-owned by the City of Gdansk and is classified as a dependent entity of the Polish city due to its close links to Gdansk, Fitch said.
More than 90% of ZKM Gdansk's annual revenue comes from the city and is insulated from fluctuations in demand variables, such as the number of passengers or fares, the agency said.
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