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City of Laval Upgraded To 'AA-' From 'A+' On Continued Debt Reduction Oct 07

  • ID: 2034043
  • October 2007
  • Standard & Poors
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TORONTO (Standard & Poor's) Oct. 25, 2007--Standard & Poor's Ratings Services today said it raised its long-term issuer credit rating on the City of Laval to 'AA-' from 'A+'. The outlook is stable. "The upgrade reflects Laval's sustained progress in meaningful debt reduction, combined with strong economic growth and improved budgetary performance," said Standard & Poor's credit analyst Nikola Swann. "The rating on Laval, located in the Metropolitan Community of Montreal (MCM), in the Province of Quebec (A+/Positive/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," Mr. Swann explained. "The size of the city's current debt burden and its liquidity level, however,...

Companies mentioned in this report are: Laval (City of)
Action: Outlook: Stable
Action: Upgraded

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
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Laval (City of)

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