Fitch affirms Casablanca

Fitch Ratings said it affirmed the Moroccan Urban Commune of Casablanca's long-term foreign- and local-currency ratings at BB+ and national long-term rating at A+(mar).

The outlook is stable.

The affirmation reflects the strong central government oversight of Moroccan local governments, its improving budgetary performance, moderate debt levels and favorable socioeconomic profile, Fitch said.

The ratings also consider the weak financial information disclosure, limited budgetary planning and weak cash management, the agency said.

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