We expect Lausanne will continue to post strong financial results on the back of dynamic tax revenue and a strong grip on costs, despite economic headwinds stemming from the Russia-Ukraine war. Lausanne raised the credit limit on its liquidity line with Basellandschaftliche Kantonalbank (BLKB), which bolsters the city's debt service coverage ratio. We revised our outlook on Lausanne to positive from stable. We also affirmed our 'A+' long-term issuer credit rating on the city. On June 3, 2022, S&P Global Ratings revised the outlook on its long-term rating on the Swiss City of Lausanne to positive from stable. At the same time, we affirmed our 'A+' long-term issuer credit and issue ratings. The positive outlook on Lausanne indicates that the
