The ratings on Sweden's Municipality of Sundsvall reflect: A stable well-balanced local economy with above-average-income levels; A sound financial performance; and A moderate debt burden. The ratings, however, also take account of: Demographic cost pressure from an ageing population; and The municipality's limited revenue flexibility. Sundsvall's local economy is well-balanced; the importance of the traditionally strong industrial sector is decreasing, and a dynamic growing services sector has evolved. The municipality is not dependent on any one single private employer or sector, although the public sector accounts for about one-third of employment, which is close to the national average. Sundsvall is home to a growing cluster of companies active in the IT and communications sector, which has grown up around state
