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City of Laval 'A+' Rating Affirmed On Declining Debt, Provincial Support Sep 06 Product Image

City of Laval 'A+' Rating Affirmed On Declining Debt, Provincial Support Sep 06

  • ID: 2033956
  • September 2006
  • Standard & Poors

Abstract
TORONTO (Standard & Poor's) Sept. 8, 2006--Standard & Poor's Ratings Services today said it affirmed its 'A+' long-term issuer credit rating on the City of Laval. The outlook is positive. "The rating on Laval, located in the Metropolitan Community of Montreal (MCM), in the Province of Quebec (A+/Stable/A-1+), reflects the city's significant economic advantages, strong support from the province, very strong and consistent budgetary performance, and a debt burden that is gradually being reduced," said Standard & Poor's credit analyst Nikola Swann. "The rating is constrained, however, by the size of the city's current debt burden and by significant contingent liabilities involving the city's pension plans," Mr. Swann added. Two significant economic advantages enjoyed by Laval, along with the entire...

Companies mentioned in this report are: Laval (City of)
Action: Affirmed
Action: Outlook: Positive

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.

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