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State of Rio de Janeiro 'BBB-' Ratings Affirmed; Outlook Stable Jun 11
Standard & Poors, June 2011
The reelection of the State of Rio de Janeiro's governor has helped ensure the continuity of the strong management team's policies. Despite a significant level of own-source revenue, the state's large debt level and continuing pressures on the expenditure side of the budget will limit its fiscal flexibility. We have affirmed our 'BBB-' foreign- and local-currency issuer credit ratings and 'brAAA' national-scale rating on the state. The stable outlook balances the state's improving fiscal indicators with the challenges in executing its infrastructure development plan. NEW YORK (Standard & Poor's) June 14, 2011--Standard & Poor's Ratings Services said today that it affirmed its 'BBB-' foreign- and local-currency issuer credit ratings and its 'brAAA' national-scale rating on the State of Rio de...
Companies mentioned in this report are: Rio de Janeiro (State of)
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Rio de Janeiro (State of)