Calabria rating affirmation supports stable regional funding profile
Calabria retains a 'BBB' long-term foreign-currency issuer default rating as the Italian region continues to show solid budgetary performance and a comparatively low debt burden. The stable outlook reflects ongoing support from the national government and European Union funds, alongside fiscal policies that Fitch says preserve financial stability.
Highlights
- Fitch Ratings affirms the Region of Calabria's Long-Term Foreign-Currency Issuer Default Rating at 'BBB' with a Stable Outlook, citing resilient budgetary performance.
- Calabria benefits from significant national and EU recovery transfers, a low debt burden versus other Italian regions, and prudent fiscal management.
- Fitch expects Calabria's recovery path to align with national trends, contingent on infrastructure investment and sustained proactive fiscal policies.
Fitch cites fiscal resilience and support
As reported by Fitch Ratings, the Region of Calabria's Long-Term Foreign-Currency Issuer Default Rating remains affirmed at 'BBB' with a Stable Outlook, reflecting resilient budgetary performance despite continuing challenges linked to the pandemic.The agency says Calabria continues to benefit from substantial transfers from Italy's national government and from EU recovery funding. It also points to the region's low debt burden relative to other Italian regions and to management's prudent fiscal approach as key factors supporting current credit conditions.
Recovery path tracks broader national trend
Fitch expects Calabria to sustain financial stability through proactive management and the strategic use of different funding sources to limit the economic effects of the pandemic.The region's recovery is expected to develop in line with broader national trends, supported by investment in infrastructure and services. The stable outlook assumes Calabria maintains its current fiscal policies while adjusting to future economic changes.
In a previous article, we explained Fitch’s reasoning behind Nepal sovereign rating affirmation amid low debt and flood-related risks.
Latest Fitch Ratings News
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