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Summary: Rome (City of)
Standard & Poors, October 2006
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.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
The rating on the Italian City of Rome was lowered to 'A+' from 'AA-' on Oct. 19, 2006, reflecting the downgrade of the Republic of Italy (A+/Stable/A-1+) on the same date. The revision of the rating on Rome acknowledges the continued strong interaction between the sovereign and its local and regional governments (LRGs). The rating on Rome will continue to be constrained by the rating on the Republic of Italy as long as the framework for intergovernmental relationships between the central government and LRGs restricts LRGs' managerial and financial autonomy. The rating is based on Rome's wealthy service-based economy and strong liquidity position. It is constrained by persistently high investment needs in the area of transportation and urban mobility, and...
Companies mentioned in this report are: Rome (City of)
Rome (City of)