“The review of the outlook of the Calabria region gives ‘stable’ to ‘positive’, communicated by Fitch represents an extremely significant result. The judgment confirms the long -term rating ‘BBB’, but above all recognizes a clear improvement of our financial solidity on an autonomous basis, with the raising of the credit profile from ‘BBB’ to ‘BBB+’. This result is not accidental, but the result of serious and continuous work, in particular in the health sector. In recent years we have acted with determination to recover transparency and control in the management of the accounts of healthcare companies, reducing previous liabilities from 1.2 billion to about 800 million euros. It is also thanks to this clarity on the accounts that Fitch was able to remove an important element of risk from the financial profile of the region. ” Roberto Occhiutopresident of the Calabria Region.
“The Agency also recognized Calabria’s ability to maintain prudent and resilient management, in a context of stable revenue and growing expenses, also due to the restrictive measures of public finance. Our debt structure – with low risk, with regular deadlines and fixed rate – and a monthly average liquidity of about 1 billion euros, allow us to cover the annual service of the debt with a large margin, equal to 110 million”.
“Fitch also stresses that, in the panorama of the Italian ordinary statute regions, Calabria today is located in an intermediate band, overcoming the negative judgment that for too long in the past few decades had accompanied our administration. This recognition, by an independent international agency, strengthens the credibility of the region and encourages us to continue seriously on the road to reforms, recovery and development. It is the confirmation that Calabria can turn the page and conquer a new and stronger role in the country system “.