We believe that the Canton of Solothurn's delayed adoption of the national corporate tax reform will slightly ease budgetary pressures in the short term. We assume the canton's prudent management will continue to implement budgetary measures to limit pressure on debt and liquidity if needed, and we therefore view the coming deficits after capital accounts as temporary. We are affirming our 'AA+/A-1+' long- and short-term ratings on Solothurn. The outlook is stable. On Nov. 15, 2019, S&P Global Ratings affirmed its 'AA+/A-1+' long- and short-term issuer credit ratings on the Swiss Canton of Solothurn. The outlook is stable. We also affirmed our issue ratings on Solothurn's senior unsecured debt. The outlook is stable because we expect that the canton will
