Research Update: Swiss City of Lausanne 'A+' Rating Affirmed On Prudent Financial Management; Outlook Remains Stable

We expect that the Swiss City of Lausanne's budgetary performance will deteriorate in 2021, due to the pandemic's delayed impact on tax receipts. However, we expect that Lausanne's prudent financial management and tight grip on expenditure will help the city's finances recover, once the COVID-19 pandemic's effects on operating revenue abate. The city also plans to reduce the share of short-term debt in its debt structure, which could help bolster its liquidity position. We have therefore affirmed our 'A+' long-term issuer credit rating on Lausanne and maintained the stable outlook. On June 4, 2021, S&P Global Ratings affirmed its 'A+' long-term issuer credit rating on the Swiss City of Lausanne. The outlook is stable. The stable outlook reflects our view

...- We expect that the Swiss City of Lausanne's budgetary performance will deteriorate in 2021, due to the pandemic's delayed impact on tax receipts. - However, we expect that Lausanne's prudent financial management and tight grip on expenditure will help the city's finances recover, once the COVID-19 pandemic's effects on operating revenue abate. - The city also plans to reduce the share of short-term debt in its debt structure, which could help bolster its liquidity position. - We have therefore affirmed our 'A+' long-term issuer credit rating on Lausanne and maintained the stable outlook....

Research Update