The Fitch agency reconfirms Bucharest’s individual credit profile at level „a”, three notches above Romania’s rating, announced Bucharest’s mayor, Nicusor Dan.

This evaluation reflects „the financial stability of the capital and the seriousness of the local administration, demonstrating the constant efforts to maintain a responsible management of public resources”, the general mayor wrote on Thursday on Facebook.

„According to the report, the Risk Profile of the Municipality of Bucharest remains at the ‘Medium’ level, without being affected by the rating action. The Key Risk Factors and the Standalone Credit Profile remain unchanged, which confirms the financial robustness of the city. The only change is the perspective rating, adjusted according to the national rating, because cities cannot receive a rating higher than that of the Romanian state. This situation underlines an essential truth: in order for Bucharest to prosper and build a healthy economy, Romania must function as a whole. It is imperative that the Government regain the trust of the financial markets and provide the necessary stability for local and national development,” Dan added.

AGERPRES