LONDON -- Standard&Poor's CreditWire 7/25/96 -- Standard&Poor's today has assigned its foreign currency double-`A' long-term issuer credit rating the City of Milan (Milan). The outlook is negative reflecting the outlook on the Republic of Italy (double-`A' negative). The rating is based on a stand alone analysis of the issuer which reflect Milan's strong and diversified economic base, its robust budgetary performance and manageable debt burden, as well as the city's modest revenue and expenditure flexibility. With 1.3 millions inhabitants (2.3% of the nation), Milan is the second largest city in Italy after Rome. As the leading commercial, financial and manufacturing center of Italy, Milan is a wealthy and highly developed city. Per capita GDP represents 126%
