STOCKHOLM (Standard&Poor's CreditWire) April 18, 2001--Standard&Poor's today assigned its double-'A'-minus long-term issuer credit rating to the Municipality of Sundsvall, the 14th most populous municipality in Sweden (local currency AAA/Stable/A-1+; foreign currency AA+/Positive/A-1+), and the 13th Swedish local government to be rated by Standard&Poor's. The outlook is stable. The rating on Sundsvall–-situated 350km north of Stockholm (AA+/Stable/A-1+)--reflects its stable, well-diversified local economy, satisfactory financial performance, and moderate debt levels. The rating also takes into account the municipality's limited flexibility for adjusting revenues and expenditures and some pressures stemming from an aging and decreasing population. Sundsvall's local economy is well diversified and is characterized by a dynamic, growing service sector, with the importance of the traditionally
