The rating on the City of Laval, located in the Province of Quebec, reflects a very strong budgetary performance for fiscal 2000 (year ended Dec. 31); a dynamic local economy that reflects the presence of high-tech, pharmaceutical research and development, and commercial activities; significant increases in building permit values and housing starts in recent years; and solid population and taxable assessment growth since 1991. Laval's burden of debt and debt service, which is high by peer standards, both domestically and internationally, offsets somewhat the rating's strength. The city produced very strong budgetary results in 2000 as it recorded an operating surplus of 20% of operating revenues (or 3.1% on a general fund basis). The results for 2001 are expected to...
Companies mentioned in this report are: Laval (City of)
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