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Calgary (City of) May 11
Standard & Poors, May 2011
Abstract
Very strong and diverse economy, although it is exposed to the swings from the energy sector Good operating surpluses, which a substantial after capital expenditure deficit mitigates Excellent cash and liquid investment balances (Standard & Poor's-adjusted) Large capital requirements, which we believe could limit financial flexibility A high-but-manageable debt burden The ratings on the City of Calgary, in the Province of Alberta (AAA/Stable/A-1+), reflect Standard & Poor's Ratings Services' opinion of the city's very strong diverse economy, although it is exposed to the swings in the oil and gas sectors; good operating surpluses that after-capital spending deficits mitigate; and excellent cash and liquid investment balances. Constraining the ratings are our assessment of large capital requirements stemming from rapid population growth...
Companies mentioned in this report are: Calgary (City of),Alberta (Province of)
Action: Affirmed
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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