PARIS (Standard & Poor's) Oct. 23, 2002--Standard & Poor's Ratings Services said today that it assigned its double-'A' long-term senior unsecured debt rating to the €30 million bond issued by the Region of Champagne-Ardenne in France. The proceeds of the bond will be used to finance the region's capital investment plan, which includes a program for the renovation of rolling stock, following the transfer of responsibility for regional railways to French regions in January 2002. This is the second bond issued by the Champagne-Ardenne region. "The rating assigned to the bond reflects the region's robust operating performance, tight budgetary discipline, and good expenditure flexibility, as well as its modest debt burden compared with other rated European regions," said Standard &...
Companies mentioned in this report are:
- Champagne-Ardenne (Region of)
Action: New Rating
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