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Regional Municipality of Durham Rating Affirmed At 'AAA' Based On Low Tax-Supported Debt And Strong Liquidity Mar 12
Standard & Poors, March 2012
We are affirming our 'AAA' long-term issuer credit rating on Durham Region. Durham has low tax-supported debt and strong liquidity support. The stable outlook reflects what we view as the region's manageable debt burden. TORONTO (Standard & Poor's) March 26, 2012--Standard & Poor's Ratings Services today said it affirmed its 'AAA' long-term issuer credit rating on the Regional Municipality of Durham, in the Province of Ontario (AA-/Stable/A-1+). The outlook is stable. "In our view, Durham has had excellent operating performances in recent years," said Standard & Poor's credit analyst Mario Angastiniotis. The region's strong budgetary cash flows from operations have generally ranged between 15% and 20% of operating revenues (Standard & Poor's adjusted) in the past decade, averaging 17% of...
Companies mentioned in this report are: Durham (Regional Municipality of)
Action: Outlook: Stable
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
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Durham (Regional Municipality of)