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MOODY'S ASSIGNS AAA RATINGS TO CITY OF PARIS
Info-Prod Research (Middle East), September, 2007
Moody's has today assigned a Aaa long termissuer rating, with stable outlook, to the city of Paris. Moody's hasalso assigned a Aaa rating to the city's Euro Medium-Term Note Programmesized at Euro 2 billion. These ratings are based on the combination ofprudent budget management and very good financial performance, as well ascost- effective debt and liquidity management.
While acknowledging thatthe executive has recently accelerated its recourse to debt as a resultof the implementation of an ambitious investment programme, Moody's is ofthe opinion that the city's debt burden remains at low levels byinternational and French standards, and is very manageable -- especiallyin light of Paris's broad revenue base. According to the rating agency,the wealth and diversity of the...
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