European Local And Regional Government Debt To Stabilize Below €1.2 Trillion In 2008 Mar 08

Standard & Poors, March 2008

Abstract
European local and regional governments (LRGs) will borrow slightly less in 2008 then they did in 2007. Most of the borrowing will be used for refinancing and only 13% of the total will be new debt. Overall debt for European LRGs will therefore stabilize below €1.2 trillion by the end of this year. This is Standard & Poor's Ratings Services' fourth pan-European LRG borrowing survey, and consolidates data and estimates of borrowing activity for LRGs in 23 European countries. As these countries account for the bulk of subsovereign government borrowing in Europe, the data are a good proxy for total European LRG debt. The data include estimates of debt outstanding (bonds and bank loans) for LRGs in the 23 countries,...

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- Goteborg (City of)
- Bavaria (State of)
- Hesse (State of)
- North Rhine-Westphalia (State of)
- Bizkaia (Historical Territory of)
- Baden-Wuerttemberg (State of)
- Municipality Finance PLC
- Catalonia (Autonomous Community of)
- The Basque Country (Autonomous Community of)
- Madrid (Autonomous Community of)
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- Valencia (Autonomous Community of)
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