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Moody’s Raises Credit Rating of Izmir Municipality

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Moody's Raises Credit Rating of Izmir Municipality
Nova Property

The USA based Moody’s, which performs credit ratings, research and analyses with its 10.800 employees in 36 countries across the world, has raised the national scale credit rating of the Metropolitan Municipality of Izmir from Aa3 to the highest level – Aaa. The reasons shown for the rise in the credit rating were the solid activity performance of Izmir, its effective financial management and the ever strengthening economy of the Municipality.

With the latest increase, the Metropolitan Municipality of Izmir has now increased its credit rating, including its domestic and foreign currency based long term credit outlook, by 17 steps since 2010.

izmir municipality

Moody’s has stated that the debt burden of the Metropolitan Municipality of Izmir is at manageable levels, and announced in its report on Izmir that in addition to the consistent and solid activity performance of the investment plans of Izmir – which form the basis of its credit rating – the Municipality also displayed a positive financial performance and sufficient levels of liquidity.

According to the assessment of the credit ratings, the ‘Aaa’ category, where the national credit rating of Izmir is located, represents the rating with the lowest risk of default and the highest capacity for fulfilling financial obligations. The probability that this capacity may be affected by foreseeable negative circumstances is extremely low.

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