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Balkan LRGs Face Sizable Infrastructure Needs And Tough Debt Restrictions May 06
Standard & Poors, May 2006
Abstract
The prospects for local and regional governments (LRGs) in the Balkan states of Bulgaria, Romania, and Croatia look encouraging. These subsovereigns benefit from high economic growth, investment inflows, and financial support from the EU ahead of accession. At the same time, however, they also face hurdles common to all LRGs in Central and Eastern Europe (CEE), namely high infrastructure needs, growing demand for better public services, evolving intergovernmental systems, and the need to improve transparency and management sophistication. Moreover, Balkan LRGs' infrastructure needs are further exacerbated by tough debt restrictions. As a consequence, their ability to address infrastructure and public services issues without jeopardizing their financial stability will be crucial to their creditworthiness in the medium-to-long term. Standard & Poor's...
Companies mentioned in this report are: Sofia (City of),Zagreb (City of),Bucharest (City of),Plovdiv (City of),Stara Zagora (City of),Varna (City of)
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: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
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