City of Bandung 'BB-' Ratings Affirmed With Stable Outlook; Then Withdrawn Due To Contractual Issues Oct 12
- Language: English
- Published: October 2012
Bandung operates in an evolving intergovernmental system with low systemic support. We note the city's limited financial flexibility, weak debt management, and poor management of government-related entities. Bandung has a fairly diversified local economy but low income by international standards, a low debt level, and an adequate liquidity profile, in our view. We are assigning our 'BB-' issuer credit rating to Bandung. The outlook is stable as we expect the city's budgetary outcomes and debt levels to stay within our projections. SINGAPORE (Standard & Poor's) Dec. 13, 2011--Standard & Poor's Ratings Services assigned its 'BB-' issuer credit rating to the City of Bandung. The outlook is stable. We also assigned our 'axBB+' ASEAN regional scale rating to the city. "The...
Companies mentioned in this report are: City of Bandung
Action: New Rating
Action: Outlook: Stable
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City of Bandung