Local And Regional Government Ratings In Europe, The Middle East, And Africa Aug 11

Standard & Poors, August 2011

Abstract
Standard & Poor's Ratings Services rates 138 local and regional governments (LRGs) in Europe, the Middle East, and Africa, as shown in the table below. Apart from pure LRGs, the issuers listed in the table also include transportation entities like Sytral and Transport for London, which we rate according to our LRG criteria. Methodology for Rating International Local And Regional Governments, Sept. 20, 2010...

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.

- Lausanne (City of)
- Sundsvall (Municipality of)
- Bashkortostan (Republic of)
- Champagne-Ardenne (Region of)
- Brno (City of)
- Vastra Gotaland (Region of)
- Schwyz (Canton of) (Unsolicited Ratings)
- Styria (State of)
- Madrid (City of)
- Basel-City (Canton of)
- Rome (Province of)
- Khanty-Mansiysk Autonomous Okrug
- Umbria (Region of)
- Graubuenden (Canton of) (Unsolicited Ratings)
- Greater London Authority
- Budapest (City of)
- Lucerne (Canton of) (Unsolicited Ratings)
- Kyiv (City of)
- Vologda Oblast
- Sicily (Region of)
- Woking Borough Council
- Vaud (Canton of)
- Tomsk Oblast
- Bucharest (City of)
- Stavropol Krai
- Krasnodar Krai
- Sakha (Republic of)
- Leningrad Oblast
- Plovdiv (City of)
- Stara Zagora (City of)
- Intercity of Tours Plus
- Varna (City of)
- Dnipropetrovsk (City of)
- Ivano-Frankivsk (City of)
- Novosibirsk (City of)
- Crimea (Autonomous Republic of)
- Cascais (City of)
- Volgograd Oblast
- Nizhny Novgorod (City of)
- Lviv (City of)
- Malmo (City of)
- Tver Oblast
- Solothurn (Canton of)
- Burgenland (State of)
- Skopje (Municipality of)
- Dzerzhinsk (City of)
- State of Rivers
- Region of Pays de La Loire
- Orebro (Municipality of)
- Huddinge (Municipality of)
- Chelyabinsk Oblast
- Limousin (Region of)
- Norway
- Stockholm (City of)
- Goteborg (City of)
- Vienna (City of) (Unsolicited Ratings)
- Bavaria (State of)
- Hesse (State of)
- North Rhine-Westphalia (State of)
- Bizkaia (Historical Territory of)
- Barcelona (City of)
- Essonne (Department of)
- Meuse (Department of)
- The Basque Country (Autonomous Community of)
- Uppsala (City of)
- Taby (Municipality of)
- Norrkoping (Municipality of)
- Vasteras (City of)
- Helsingborg (City of)
- Madrid (Autonomous Community of)
- Paris (City of)
- Czech Republic
- Valencia (Autonomous Community of)
- Community of Flanders
- Prague (City of)
- Zurich (Canton of)
- The Balearic Islands (Autonomous Community of)
- Galicia (Autonomous Community of)
- Romania
- Brussels-Capital (Region of)
- Milan (City of)
- Ostrava (City of)
- Bologna (City of)
- Moscow (City of)
- Canary Islands (Autonomous Community of)
- St. Petersburg (City of)
- Nord Pas De Calais (Region of)
- Riga (City of)
- Rome (City of)
- Turin (City of)
- Andalusia (Autonomous Community of)
- Genoa (City of)
- Sverdlovsk Oblast
- Olomouc (City of)
- Saxony-Anhalt (State of)
- Samara Oblast
- Ukraine
- Florence (City of)
- Yamal-Nenets Autonomous Okrug
- Boulogne-Billancourt (City of)
- Emilia-Romagna (Region of)
- Jesi (City of)
- Sofia (City of)
- Navarre (Autonomous Community of)
- Lower Austria (State of) (Unsolicited Ratings)
- Tyrol (State of)
- Aragon (Autonomous Community of)
- Sytral
- Zagreb (City of)
- Stockholm County Council
- Upper Austria (State of)
- Friuli-Venezia Giulia (Autonomous Region of)
- Geneva (City of)
- Transport for London
- Aargau (Canton of)
- Istanbul (City of)
- Geneva (Republic and Canton of)
- Kensington and Chelsea (Royal Borough of)
- Intercity of Dunkirk
- Surgut (City of)
- Cannes (City of)
- Liguria (Region of)
- Ufa (City of)
- Campania (Region of)
- St. Gallen (Canton of)
- Lund (Municipality of)
- Krasnoyarsk Krai
- Lyon (City of)
- Lipetsk Oblast
- Mantova (Province of)
- Minsk (City of)
- Auvergne (Region of)
- Oslo (City of)
- Baden-Wuerttemberg (State of)
- Catalonia (Autonomous Community of)
- Lodz (City of)
- Krakow (City of)
- Lazio (Region of)
- Irkutsk Oblast
- Saxony (State of)
- City of Lucca
- Marches (Region of)
- Overseas Country of Polynesia

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