The Swiss Canton of Basel-Country has a very strong economy and exceptional liquidity due to ample available liquidity lines and a stable liquid assets position. Basel-Country faces a high tax-supported debt burden following the recapitalization of its pension fund in 2014 and 2015. We are affirming our ratings on Basel-Country at 'AA+/A-1+'. The stable outlook reflects our view that Basel-Country will continue to implement saving measures over the coming years, improve its budgetary performance, and maintain healthy liquidity. On July 17, 2015, Standard&Poor's Ratings Services affirmed its long- and short-term issuer credit ratings on the Swiss Canton of Basel-Country at 'AA+/A-1+'. The outlook is stable. The ratings on Basel-Country benefit from the extremely predictable and supportive institutional framework
