POLAND-S&P-RATINGS-SZCZECIN.

Poland Business News | June 24, 2002 | Copyright

S&P says bankrupt Szczecin shipyard will not hugely undercut Szczecin city's financial standing

Warsaw. June 24. INTERFAX-EUROPE - Credit-rating agency Standard & Poor's said Monday that the ongoing crisis at the Porta Holding Szczecin ship-making group is not expected to have a significant impact on the city of Szczecin's (ratings BBB/Stable/--) finances and debt burden in the medium term.

The Szczecin city's 2002 budget was twice revised due to a 9% slump in revenue from the real estate tax and from liquidity-eyeing maritime sector entities, and connected ...

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