We forecast the City of Lausanne's prudent financial management will maintain solid operating margins, limiting deficits. Lausanne's limited liquidity coverage of debt service is mitigated by its established, reliable access to highly liquid Swiss capital markets. Therefore, we have affirmed our 'AA-' foreign and local currency long-term issuer credit ratings on the City of Lausanne. The outlook is stable. On May 2, 2025, S&P Global Ratings affirmed its foreign and local currency long-term issuer credit ratings on the Swiss City of Lausanne at 'AA-'. The outlook is stable. The stable outlook reflects our view that solid economic performance and prudent financial management will continue to underpin Lausanne's budgetary performance, with the city maintaining only modest post-capital account deficits. We could
