We consider that the Region of Limousin, France, has a moderate tax-supported debt burden. We believe that its tight rein on expenditures will partly offset impaired revenue dynamism resulting from changes to the fiscal framework. We are assigning our 'AA' rating to Limousin. The stable outlook reflects our belief that the region's tax-supported debt burden will remain moderate. On May 2, 2011, Standard & Poor's Ratings Services assigned its 'AA' long-term issuer credit rating to France's Region of Limousin. The outlook is stable. The rating reflects Limousin's tight rein over operating expenditure, moderate tax-supported debt, high operating margin in an international context, and prudent debt management. The rating also takes into account the region's capital expenditure flexibility and low contingent...
Companies mentioned in this report are:
- Limousin (Region of)
Action: New Rating
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Product Type: Research Update
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