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Aragon (Autonomous Community of) May 11
Standard & Poors, May 2011
Abstract
Relatively wealthy economy. Supportive financing system. Lack of significant contingent liabilities. Still relatively moderate debt burden. Structural pressure on rigid and dynamic operating expenditures. Rapid budgetary deterioration. Moderate concentration of the economy on the automobile sector. The rating on the Autonomous Community of Aragon reflects Standard & Poor's view of the supportiveness of the Spanish public finance system, the region's wealthy economy--with GDP per capita exceeding the EU average--and Aragon's relatively low contingent liabilities, as well as our belief that Aragon's financial managers will likely cut spending to comply with the deficit targets contained in the national stability pact for Spanish regions. These rating supports are partially offset by our opinion of the intensity of Aragon's budgetary deterioration--due to the...
Companies mentioned in this report are: Aragon (Autonomous Community 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
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