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St. John's (City of) Apr 11
Standard & Poors, April 2011
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Full Analysis
Robust operating performance Solid economic fundamentals Adequate liquidity Relatively high debt load Exposure to potentially volatile oil and mining sectors The rating on the City of St. John's, in the Province of Newfoundland and Labrador (A+/Stable/A-1+) reflects Standard & Poor's Ratings Services' assessment of the following credit strengths: Healthy budgetary performance. St. John's has generated solid operating surpluses of 14% to 17% of operating revenue in the past four years. The strong surpluses and rapidly rising revenue base follow a multiyear trend that has afforded the city the ability to invest significantly in important infrastructure and service needs; Sound economic fundamentals. In addition to the mining and offshore oil sectors, which have generally bolstered its economy in recent years, St....
Companies mentioned in this report are: St. John's (City of),Newfoundland and Labrador (Province of)
Action: New Rating
St. John's (City of),Newfoundland and Labrador (Province of)