FRANKFURT (Standard&Poor's) April 25, 2002--Standard&Poor's said today that it assigned its double-'A'-minus long-term senior unsecured debt rating to the Swiss City of Lausanne's (AA-/Stable/--) Swiss franc 125 million ($76 million) bonds issued on April 24, 2002, maturing in 2009. "Proceeds from the issue will be used to refinance part of the municipality's outstanding debt," said Standard&Poor's International Public Finance credit analyst Alois Strasser. The rating assigned to the debt issue is the same as the issuer credit rating on Lausanne, which is a reflection of the city's stable and diversified economy with further growth potential, the relatively supportive nature of the revenue equalization system, and the city's improving financial performance. Factors constraining the issuer
