Fitch rates Marrakesh BB+, A+(mar)

Fitch Ratings said it assigned the Urban Commune of Marrakesh long-term foreign- and local-currency ratings of BB+, along with a national long-term rating of A+(mar).

The outlook is stable.

The ratings reflect favorable institutional framework, including measures implemented by the state to monitor the local public sector's finances and a high probability of state intervention, Fitch said. The ratings also factor in the city's moderate debt.

The ratings also take into account the high rigidity of Marrakesh's limited opportunity to improve the city's budgetary performance, the agency said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.