Fitch: Bucharest's outlook revised to stable

Fitch Ratings revised on Tuesday the outlook for the City of Bucharest from negative to stable. Fitch also affirmed its long-term foreign and local currency ratings at BB+ and BB- respectively.

Bucharest’s short-term foreign currency rating was affirmed at B, while the long-term foreign currency rating of its 500 million euro bond due 22 June 2015 was affirmed at BB+.

Fitch notes that the revision reflects a similar rating change on Romania’s outlooks in February.