Friday, May 20, 2016

Fitch Affirms Polish City of Torun at 'BBB'; Outlook Stable

(The following statement was released by the rating agency)

WARSAW/LONDON, May 20 (Fitch) Fitch Ratings has affirmed the

Polish City of

Torun's Long-Term Foreign and Local Currency Issuer Default

Ratings (IDRs) at

'BBB' and National Long-Term rating at 'A(pol)'. The Outlooks

are Stable.

The affirmation reflects the city's satisfactory budgetary

performance, which is

in line with Fitch's base case scenario, and our expectations

that the city will

maintain its sound operating results in the m

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