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Madrid (City of) Feb 06 Product Image

Madrid (City of) Feb 06

  • ID: 1722634
  • February 2006
  • Standard & Poors

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Abstract
Wealthy and diversified service-based economy, with sound growth prospects; Growing tax base and considerable room for tax increases; and Management's commitment to streamlining costs and implementing the city's restructuring plan. Gradual deterioration of the operating margin since 2000; and Considerable increase in the debt stock since 2003 and an ambitious investment program until 2007. The ratings reflect the City of Madrid's sound growth prospects and wealthy and diversified service-based economy--which result from the city's status as the country's main economic and financial center--as well as a growing tax base and below-average tax pressure. Management's commitment to effectively implementing the city's restructuring plan, which should help Madrid return to a balanced budget by 2008, is a further ratings support. The ratings...

Companies mentioned in this report are:
- Madrid (City of)
- Stockholm (City of)
- Barcelona (City of)
- Paris (City of)
- Milan (City of)
- Rome (City of)

Action: Review

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

- Madrid (City of)
- Stockholm (City of)
- Barcelona (City of)
- Paris (City of)
- Milan (City of)
- Rome (City of)

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