Fitch Opens Fitch Polska S.A.
Fitch has announced the opening of Fitch Polska S.A. Formerly known as the Central European Rating Agency – CERA S.A., the subsidiary will offer both international and national ratings. Fitch Polska is the first office of an international rating agency within Central Europe. Although the debt security market in Poland is still relatively poorly developed, ratings are taking an increasingly greater role, so enabling corporations and local governments, among others, to use more sophisticated transactions to acquire capital by issuing bonds as well as facilitating attempts to obtain bank loans. In turn, ratings give prospective investors credible information about the financial conditions of firms and local governments and thus decrease the costs of their investing activity.