Italian City of Milan Affirmed At 'BBB+'; Outlook Remains Negative, Mirroring The Outlook On Italy Dec 12
- Language: English
- Published: December 2012
- Region: Italy
Paris -- Standard & Poor's CreditWire 12/11/97 -- Standard & Poor's today assigned its double-'A' local currency issuer credit rating to the city of Milan and affirmed its double-'A' long-term foreign currency issuer credit rating. The rating is based on the city's strong and diversified economic base, its sound financial performance, and its manageable debt burden. With 1.3 million inhabitants, Milan is the second-largest Italian city and its leading manufacturing and financial center. Milan is a highly developed and wealthy city, accounting for 10% of Italian GDP. Wealth indicators are substantially above both national and European averages. Employment in the city is well diversified, though the relative size of the manufacturing sector continues to be higher than in other large...
Companies mentioned in this report are:
- Milan (City of)
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- Milan (City of)