Košice climbing out of deep hole

THE CITY of Košice, which last year faced possible cross-default, has been given a long-term rating with a positive outlook by the Slovak Ratings Agency, whose director says the city is showing "growth potential" after making budget cuts.

The director, Rudolf Autner, praised the courage of city leaders in "looking at themselves naked in the mirror" and bringing in an independent advisor to point the way out of the city's financial crisis. "That's not common in Slovakia, especially at the municipal level," said Autner.

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