City of Calgary Aug 12
Standard & Poors, August 2012
Abstract
Robust liquidity Strong economy, albeit with concentration within the energy sector Robust budgetary performance Relatively high debt Constrained budgetary flexibility The ratings on the City of Calgary, in the Province of Alberta (AAA/Stable/A-1+), reflect Standard & Poor's Ratings Services' opinion of the city's robust liquidity, strong economy that has some industry concentration within the energy sector, and robust budgetary performance. We believe that relatively high debt and constrained budgetary flexibility somewhat offset these strengths. While we expect that Calgary will draw down its balances moderately as it undertakes its capital plan, we believe that its liquidity will continue to remain strong, at levels of greater than 100% of 12 months of debt service. At the end of fiscal 2011, free...
Companies mentioned in this report are: Calgary (City of),Alberta (Province of),ENMAX Corp.
Action: Affirmed
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: Full Analysis
Calgary (City of),Alberta (Province of),ENMAX Corp.
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