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Fitch smiles on Warsaw

Eurobuild CEE 17 June 2019
POLAND Ratings agency Fitch has given the city of Warsaw an A grade rating for its long term debt including its bonds.

Fitch expects, Warsaw to maintain a strong budget with a safe level of debt over the medium term despite increasing operating expenses. This opinion is shared by Moody’s which gave the city an A2 rating in December, which is the same rating that the agency has given Poland as a country. As Fitch pointed out, Warsaw's tax revenues in 2018 covered 53 pct of the city budget. Fitch evaluated Warsaw’s ability to raise its income in the event of a downturn as ‘average’ and gave the city a rating of ‘strong’ rating for the stability of its expenditure.

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