City of Laval Upgraded To 'AA-' From 'A+' On Continued Debt Reduction Oct 07
- ID: 2034043
- October 2007
- Standard & Poors
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
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