City of Vancouver Outlook Revised to Negative On High Combined Debt Burden Dec 04
Standard & Poors, December 2004
Abstract
TORONTO (Standard & Poor's) Dec. 14, 2004--Standard & Poor's Ratings Services today said it revised its outlook on the City of Vancouver in the Province of British Columbia to negative from stable due to the city's high combined debt burden. At the same time, Standard & Poor's affirmed its 'AAA' long-term issuer credit and senior unsecured debt ratings. "The negative outlook reflects the possibility that Vancouver's combined debt burden and its share of the Greater Vancouver District's debt will become too onerous in the next few years to support the current 'AAA' rating, given the potential for reductions in the city's financial flexibility," said Standard & Poor's credit analyst Stephen Ogilvie. A significant new stream of capital revenues or material...
Companies mentioned in this report are: Vancouver (City of)
Action: Affirmed
Action: Outlook: Negative
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.
Vancouver (City of)
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