On Nov. 7, 2002, Standard&Poor's Ratings Services 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--GDP per capita is estimated to be 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. Lausanne's collaborative network of scientific research institutions and private companies also provides a basis for future development. The city enjoys special status and significance as capital of the State (canton) of Vaud. Its strategy to increase regional cooperation is likely to improve Lausanne's economy and infrastructure. The newly elected city government's
