- Published: April 2009
- Region: China
Research Update: French Department Of Essonne's 'AA' Rating Affirmed; Outlook Remains Negative On Unclear Budget And Investment Strategy Feb 11
- Published: February 2011
- Region: France
- Standard & Poors
We consider that Essonne has shown great capacity for rapid budgetary adjustment in 2010. We believe that its tight rein on expenditures will partly offset the negative effect on revenues of state institutional reform. We are affirming our 'AA' rating on Essonne. The negative outlook reflects the lack of clarity regarding Essonne's investment strategy, in the context of volatile revenues and the March 2011 elections. On Feb. 16, 2011, Standard & Poor's Ratings Services affirmed its 'AA' long-term issuer credit rating on France's Department of Essonne (Essonne) as well as on its -1 billion euro medium term notes (EMTN) program. The outlook is negative. The rating reflects our view of Essonne's great capacity for budgetary adjustment and its strong rein...
Companies mentioned in this report are: Essonne (Department of)
Action: Outlook: Negative
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Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
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Essonne (Department of)