Fitch rates Brasov BB+

Fitch Ratings said it assigned the City of Brasov a long-term foreign-currency rating of BB+, a long-term local-currency rating of BBB- and a short-term foreign-currency rating of B.

The outlook is negative.

The ratings reflect the city's above-national average, socio-economic profile, sharply increased, but moderate debt burden and a national policy framework supportive of local governments, Fitch said.

The ratings also acknowledge the city's deteriorating fiscal performance and weakening debt servicing ability amid the global economic crisis, the agency said.

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