Fitch affirms Bialystok

Fitch Ratings said it affirmed the Polish city of Bialystok's long-term foreign and local currency ratings of BBB, respectively, with stable outlooks.

The agency has affirmed the city's national long-term rating at A(pol) with a stable outlook.

Fitch said the rating actions reflect Bialystok's sound operating performance, current moderate debt, strong debt coverage ratios and forthcoming increase in capital revenue from E.U. grants, which the city will receive for its investments.

However, the ratings also consider the expectation of lower operating revenue growth than the average of the last few years, a projected increase of debt, weak financial liquidity, and the city's weak socio-economic profile.

© 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.