Fitch revises outlook of Turkey's Izmir to positive

International rating organization Fitch upgraded outlook on ratings of the Metropolitan Municipality of Izmir from stable to positive.

Fitch revises outlook of Turkey's Izmir to positive

 

International rating organization Fitch upgraded outlook on ratings of the Metropolitan Municipality of Izmir from stable to positive.

A statement by the municipality said on Friday that the revision of outlooks on the ratings of the Metropolitan Municipality of Izmir to positive reflects the expected repayment of Izmir's liability to the Treasury and the resulting greater financial flexibility.

"It also takes into account the municipality's greater than anticipated fiscal resilience, which underpinned its ability to adapt to difficult economic conditions," the statement said.
 

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Last Mod: 31 Temmuz 2010, 09:36
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