Research Update: Swiss Canton of Basel-Country Upgraded To 'AAA/A-1+' On Strong Financial Management And Performance; Outlook Stable

We expect Basel-Country will be only moderately affected by the Russia-Ukraine conflict, thanks to its stable economy and resilient tax base. The canton's finances have improved in the last few years, and we project financial management will remain committed to sound budgetary performance and debt reduction, albeit at a slower pace than previously. Additionally, Basellandschaftliche Kantonalbank, which remains a key element of our contingent liability analysis given cantonal guarantees, continues to be profitable and well capitalized, limiting risk. Therefore, we raised our long-term issuer credit rating on the Canton of Basel-Country to 'AAA' from 'AA+', and affirmed the 'A-1+' short-term rating. The outlook is stable. On Nov. 4, 2022, S&P Global Ratings raised its long-term issuer credit rating on the

...- We expect Basel-Country will be only moderately affected by the Russia-Ukraine conflict, thanks to its stable economy and resilient tax base. - The canton's finances have improved in the last few years, and we project financial management will remain committed to sound budgetary performance and debt reduction, albeit at a slower pace than previously. - Additionally, Basellandschaftliche Kantonalbank, which remains a key element of our contingent liability analysis given cantonal guarantees, continues to be profitable and well capitalized, limiting risk. - Therefore, we raised our long-term issuer credit rating on the Canton of Basel-Country to '###' from '##+', and affirmed the 'A-1+' short-term rating. The outlook is stable....

Research Update