Fitch confirms BBB- rating for Oradea’s long-term foreign and domestic currency debt

The perspective for the long-term debt is stable, Fitch said. The ratings show the better-than-expected financial performances obtained by the city.

Oradea issued 100,000 municipal bonds in 2004 with a six-year maturity. The money is being used for local infrastructure improvements.

The city’s total expenditures with roads, public utilities and urban development programs could amount to 340 million lei starting this year and until 2010. The total sum should be 40 percent covered from loans.

Source: NewsIn