Fitch lifts Bydgoszcz

Fitch Ratings said it upgraded Bydgoszcz's long-term foreign- and local-currency ratings to BBB from BBB-.

The outlook is stable.

Fitch the upgrade reflects the significant improvement in Bydgoszcz's operating performance since 2004, as well as restructurings in health care and education.

They also consider high liquidity, active tax and tariff policy and currently low debt, the agency said.

Ratings also reflect a projected increase in the city's debt and indirect risk arising from the city's limited power over Spolka Wodna Kapusciska, Fitch said.

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