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Paris (City of) Jan 11
Standard & Poors, January 2011
Very wealthy economy. Strong revenue flexibility. Sophisticated management. Extremely strong liquidity position. Sizable capital program. Shrinking self-financing capacity. Uncertainties on the possible medium-term evolution of institutions and the financing system. The ratings on the City of Paris reflect Standard & Poor's Ratings Services' view of its very wealthy economy and patrimony, strong financing capacity, and still moderate debt burden, despite gradual growth. The city's broad revenue-raising potential, its increasingly sophisticated management, and its conservative financial guidelines provide additional rating support. The ratings also factor in Paris' sizable capital spending program and its narrowing self-financing capacity, which depends increasingly on effective cost control and exceptional asset sales. Paris' consolidated 2009 operating margin increased to 8% of operating revenues from 6.6% in...
Companies mentioned in this report are:
- Paris (City of)
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Research Type: Full Analysis
- Paris (City of)