Summary: Goteborg (City of) Aug 08

Standard & Poors, August 2008

Abstract
The ratings on the City of Göteborg (Gothenburg), the second-largest city in the Kingdom of Sweden (AAA/Stable/A-1+), reflect the strong system support and institutional stability enjoyed by Swedish local and regional governments. They also reflect the city's healthy and stable financial performance, strong liquidity, dynamic local economy, and moderate debt--of which a substantial part is onlent to self-supporting municipal companies with substantial surplus values. These strengths are offset to a certain extent, however, by the city's unfunded pension liabilities, which are in line with those of its rated Swedish peers, and its tax rate, which is slightly above the Swedish average. Göteborg benefits from strong system support and institutional stability for local and regional governments. The Swedish local and regional...

Companies mentioned in this report are:
- Goteborg (City of)
- Sweden (Kingdom of)

Action: Review

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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.

- Goteborg (City of)
- Sweden (Kingdom of)

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