Additional central government grants support Sundsvall's performance metrics. Extraordinary grants and a more positive tax revenue forecast than previously will boost the municipality's operating results. At the same time, S&P Global Ratings expects Sundsvall will implement efficiency measures to address structural deficits in a number of municipal boards. Consequently, we expect the municipality to post stable balanced budget results throughout the forecast period. High investment needs in the municipality and the company sector will lead to continued debt build-up. That said, a significant share of debt will be on-lent to financially healthy companies. Furthermore, we expect Sundsvall will remain committed to its financial policies, which support the strong liquidity position. The stable outlook reflects our expectation that Sundsvall will post
