This report supplements our research update "Swiss City of Lausanne 'A+' Long-Term Rating Affirmed On Sound Budgetary Performance; Outlook Remains Stable," published on June 13, 2014 based on our criteria set out in "Methodology For Rating International Local And Regional Governments," published on Sept. 20, 2010. To provide the most current information, we may cite more recent data than that stated in the previous publication. These differences have been determined not to be sufficiently significant to affect the rating and our main conclusions. The rating on the City of Lausanne primarily reflects our view of the "predictable and well-balanced" institutional framework for municipalities located in the Swiss Canton of Vaud, including Lausanne. In addition, we factor in the city's wealthy
