Good news for IMM from Fitch: Credit rating outlook upgraded to 'positive'
International credit rating agency Fitch Ratings has affirmed Istanbul's credit rating while upgrading its outlook. The ratings and outlooks for Ankara, Bursa, and Antalya were also affirmed.
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According to a statement from the international credit rating agency Fitch Ratings, the long-term foreign and local currency issuer default ratings (IDR) of the Istanbul Metropolitan Municipality (IMM) were affirmed at "B+."
The outlook for Istanbul's credit rating was upgraded from "stable" to "positive" due to improvements in its operating balance.
The agency affirmed the credit ratings for Ankara, Bursa, and Antalya at "B+" with a "positive" outlook.