Fitch Revises Polish City of Kielce's Outlook to Positive; Affirms at 'BBB-'

April 17, 2015 4:04 PM

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(The following statement was released by the rating agency) Link to Fitch Ratings' Report: City of Kielce - Rating Action Report here WARSAW/PARIS, April 17 (Fitch) Fitch Ratings has revised the Polish City of Kielce's Outlook to Positive from Stable and affirmed its Long-term foreign and local currency Issuer Default Ratings (IDRs) at 'BBB-' and National Long-term rating at 'A-(pol)'.

KEY RATING DRIVERS The Outlook change reflects the following key rating drivers and their relative weights: HIGH Fitch expects the city to maintain satisfactory operating performance in 2015-2017 with an operating margin averaging 7-8%. This will be sufficient to meet its debt-service obligations by...

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