FRANKFURT (Standard&Poor's) Nov. 7, 2002--Standard&Poor's Ratings Services said today it affirmed its double-'A'-minus long-term issuer credit and senior unsecured debt ratings on the City of Lausanne in Switzerland. The outlook is stable. "The ratings are supported by Lausanne's high wealth levels, with GDP per capita estimated at 165% of the EU-15 average, and by its strongly service-oriented economy, particularly in real estate, business-oriented services, health and social care, and financial services," said Standard&Poor's credit analyst Alois Strasser. "The city government's goal to balance overall accounts by 2005 also supports the ratings." "The city has shown a solid financial performance over the past five years, with average operating surpluses of 7% of operating revenues, and
