Very strong budgetary performance. Large amount of liquid reserves available. Moderate debt burden. Very low contingent liabilities. Strong and predictable system support in Switzerland. Moderately high net financial liabilities. Below-average wealth levels in a national context, leading to dependence on fiscal equalization funds. The ratings are primarily based on the Canton of Solothurn's very strong budgetary performance, which we expect to continue through 2010 with an operating performance of 8.3% of operating revenues and a small surplus after capital accounts of 0.9% of adjusted total revenues. Should the canton achieve these levels, it will have outperformed its budgeted figures again. This track record of excellent performance, despite the economic crisis in 2009, forms a solid platform for facing lower tax
