Fitch Revises Eurometropole of Strasbourg's Outlook to Negative; Affirms at 'AA'

April 17, 2015 4:03 PM

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(The following statement was released by the rating agency) Link to Fitch Ratings' Report: Strasbourg, Eurometropole - Rating Action Report here LONDON/PARIS/MOSCOW, April 17 (Fitch) Fitch Ratings has revised the Eurometropole of Strasbourg's Outlook to Negative from Stable and affirmed the department's Long-term foreign and local currency Issuer Default Ratings (IDR) at 'AA' and its Short-term foreign currency IDR at 'F1+'.

Its EUR300m euro medium-term programme has also been affirmed at 'AA'. KEY RATING DRIVERS The Outlook revision reflects Fitch's expectation that Eurometropole's debt metrics and budgetary performance will weaken in the medium term. This is due to an expected increase in debt, driven by capital expen...

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