Fitch Increases Konya’s Credit Rating

Konya Metropolitan Municipality continues to attract attention with its successful projects implemented at local, national, and international levels.

The international credit rating agency Fitch Ratings has upgraded the long-term credit rating of Konya Metropolitan Municipality. The agency raised the municipality's long-term foreign and local currency credit ratings from ‘B+’ to ‘BB-’ and its national long-term rating from ‘AA’ to ‘AA+’. The outlook was assessed as stable.

Fitch's assessment highlighted the financial resilience of Konya Metropolitan Municipality, emphasizing the importance of future investment projects and the sustainability of fiscal discipline.

The rating upgrade is attributed to Konya’s strong financial profile and the stable outlook of its operating balance. Fitch noted that the municipality's repayment capacity remains intact and its debt management remains at reasonable levels. In particular, the municipality’s healthy debt structure relative to operating revenues and its balanced budget played a key role in the upward revision of its credit rating.

Konya Metropolitan Municipality Mayor Uğur İbrahim Altay emphasized that Konya, with a population of 2.33 million, is one of Turkey’s largest cities and has a strong economic structure supported by the service, industry, agriculture, and tourism sectors.