'AAA' LT Issuer Credit & Senior Unsecured Debt Ratings on City of Paris Affirmed; Outlk Stable Jun 99
- ID: 2050300
- June 1999
- Standard & Poors
PARIS (Standard & Poor's CreditWire) June 17, 1999-?Standard & Poor's today affirmed its triple-'A' long-term issuer credit and senior unsecured debt ratings on the City of Paris. The outlook is stable. The ratings reflect Paris' strong financial performance, its significant revenue flexibility, its moderate and slightly declining debt burden, and a gradual improvement in the city's economy. Paris consolidated its financial performance in 1998, when the operating surplus stood at 11% of operating revenues. The city generated a surplus before debt repayment for the second consecutive year of 6% of total aggregated revenues, which enabled a further reduction in the debt burden. Robust operating growth in 1998, resulting in part from the recovery in the economy and an upturn in...
Companies mentioned in this report are:
- Paris (City of)
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.