On Sept. 5, 2008, Standard & Poor's Ratings Services affirmed its 'AAA' long-term issuer credit rating on the French City of Paris. The outlook is stable. The rating reflects the French capital's very wealthy economy and patrimony, robust financial performance, and modest debt burden. Further support is provided by the city's broad revenue-raising potential and by the continuity in policies and management team following the 2008 elections. The rating also factors in the exposure of Paris' budgetary performance to the current downturn in real estate and job markets, and moderate borrowing needs in the future. Despite increased pressure from recently transferred responsibilities, Paris' consolidated operating margin has remained fairly stable and strong over the past four years, representing about 12%...
Companies mentioned in this report are:
- Paris (City of)
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