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City of Paris Long-Term Rating Lowered To 'AA+' Following Similar Action On France; Outlook Negative Jan 12 Product Image

City of Paris Long-Term Rating Lowered To 'AA+' Following Similar Action On France; Outlook Negative Jan 12

  • ID: 2047176
  • January 2012
  • Region: France
  • Standard & Poors

Abstract
Standard & Poor's lowered its unsolicited long-term sovereign credit rating on the Republic of France to 'AA+' from 'AAA' on Jan. 13, 2012. Under our methodology for rating local and regional governments (LRGs) and their related sovereigns, we cap the rating on the City of Paris based on the long-term rating on France. Consequently, we are lowering our long-term issuer credit rating on Paris to 'AA+' from 'AAA' and removing it from CreditWatch negative. We are also affirming our 'A-1+' short-term rating on Paris. The negative outlook reflects that on France. PARIS (Standard & Poor's) Jan. 30, 2012--Standard & Poor's Ratings Services today said it lowered its long-term issuer credit rating on the City of Paris to 'AA+' from 'AAA'....

Companies mentioned in this report are:
- Paris (City of)

Action: Downgraded
Action: Outlook: Negative
Action: Removed From CreditWatch

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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