State of Rio de Janeiro 'BBB-' Ratings Affirmed; Outlook Stable Jun 11
Standard & Poors, June 2011
Abstract
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)
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: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
Rio de Janeiro (State of)
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