City of Levallois - Fitch Research

City of Levallois

City of Levallois - Fitch Research
City of Levallois
Published Sep 25, 2017
13 pages (7531 words) — Published Sep 25, 2017
Price US$ 550.00  |  Buy this Report Now

About This Report

  
Brief Excerpt:

...High Refinancing Needs: The City of Levallois exhibits one of the highest levels of debt among French cities (217% of current revenues in 2016), inherited from its extensive investment programme between 2007 and 2015. Debt service represents more than twice the city's operating balance and the refinancing pressure is acute with a EUR26 million bullet bond to refinance in 2022. This is partly mitigated by the short maturity of debt, which can be easily extended, and by some asset disposals. Debt Reduction to Slow: The city has reduced its debt by EUR300 million since 2012 thanks to large capital revenues worth EUR600 million. Fitch expects capital revenues to decrease faster than capital expenditures in the medium term, slowing the city's debt reduction programme. The unsustainability of capital revenue is mostly due to the high share of asset disposals (EUR200 million in 2012-2016, or 33% of capital revenue), which are by nature limited, and the completion of the large investment projects....

  
Report Type:

Full Rating Report

Company(ies)
Issuer
Levallois, City of
Format:
PDF Adobe Acrobat
Buy Now

Fitch Research—Fitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets.

About the Author


Cite this Report

  
MLA:
Fitch Research. "City of Levallois" Sep 25, 2017. Alacra Store. Sep 22, 2020. <http://www.alacrastore.com/fitch-credit-research/City-of-Levallois-903750_report_frame>
  
APA:
Fitch Research. (). City of Levallois Sep 25, 2017. New York, NY: Alacra Store. Retrieved Sep 22, 2020 from <http://www.alacrastore.com/fitch-credit-research/City-of-Levallois-903750_report_frame>
  
US$ 550.00
$  £  
Have a Question?

Any questions about the report you're considering? Our Customer Service Team can help! Or visit our FAQs.

More Research

Search all our Credit Research from one place.