PARIS (Standard & Poor's) July 31, 2002--Standard & Poor's Ratings Services said today that it has affirmed its triple-'A' long-term issuer credit rating on the City of Paris, following an annual review. The outlook is stable. The rating is based on the French capital's very wealthy economy, excellent financial performances, and modest debt burden. Paris maintained excellent financial performances in 2001, boasting a surplus before debt repayment for the fifth consecutive year, thanks to a dynamic tax base and moderate expenditure growth. "These surpluses have enabled the city to reduce its debt, from 57% of operating revenues at the end of 1996 to 24% at the end of 2001," said Standard & Poor's credit analyst Alexandra Dimitrijevic. "Paris is now...
Companies mentioned in this report are:
- Paris (City of)
- Ile-de-France (Region of)
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