Fitch lifts Brasov to stable

Fitch Ratings said it revised the outlook on the Romanian city of Brasov's long-term local-currency issuer default rating to stable from positive and affirmed the rating at BBB-.

The outlook revision follows a similar outlook revision on Romania's long-term local-currency issuer default rating, Fitch said.

The local ratings on Brasov are now at the same level as that on the sovereign, the agency said.

Local and regional governments usually cannot be rated above the sovereign rating outlook, Fitch explained.

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