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Research Update: City of Montreal 'A+' Ratings Affirmed On Continued Strong Local Economy; Outlook Stable Dec 11

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Abstract
We are affirming our 'A+' long-term issuer credit and senior unsecured debt ratings on the City of Montreal. The affirmation reflects our favorable view of the deep and diversified Montreal economy, strong operating and after-capital surpluses in 2010, and satisfactory liquidity levels. In 2010, the city produced an operating surplus of 14% of operating revenues and an after-capital surplus of 3% of total revenues, a substantial improvement on 2009 results. The stable outlook reflects our expectations that Montreal will continue to produce healthy operating surpluses and near-balance after-capital results in the next two years and that the local economy will grow moderately in 2011 and 2012. On Dec. 19, 2011, Standard & Poor's Ratings Services affirmed its 'A+' long-term issuer...

Companies mentioned in this report are: Montreal (City of),Quebec (Province of)
Action: Affirmed
Action: Outlook: Stable

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.

Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.

Companies Mentioned

Montreal (City of),Quebec (Province of)

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Research Update: City of Montreal 'A+' Ratings Affirmed On Continued Strong Local Economy; Outlook Stable Dec 11

Fax order form

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Web Address

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Report Formats

Contact information

Please fax this form to: (646) 607-1907 or (646) 964-6609 (from USA) +353-1-481-1716 or +353-1-653-1571 (from Rest of World)

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Please fax this form to:
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