Fitch confirms Bucharest's ratings

Joi, 6 noiembrie 2008, 19:38 English | Business

The financial evaluation company, Fitch Ratings confirmed on Thursday Bucharest's rating for long term credits at BB minus, and the short term ones at F3. Both quotas have a stable perspective. Bucharest's ratings reflect solid operational performances, supported by growth of local economy, a press release of the agency reads.  

The report reads that the ratings reflect the central administration's financial support considering the economic importance of the city. The rating also takes into account the risks incurred by the need to refinance and the exchange rates.

However, the rating could improve if the budgetary performances fit within the established estimations or whether Romania's institutional framework will have a favorable evolution. On the other hand, Bucharest's rating could be downgraded if its debt increases significantly.