OVERVIEW The ratings on the Swiss Canton of Solothurn benefit from the predictable and supportive institutional framework for Swiss Cantons and very positive liquidity, in our view. We expect that the canton's debt burden will increase, while still remaining moderate over the next few years. We are affirming our 'AA+/A-1+' ratings on Solothurn. The stable outlook reflects our view that the canton's management will stay committed to budgetary consolidation, and continue to improve budgetary performance over the coming two years. RATING ACTION On June 20, 2014, Standard&Poor's Ratings Services affirmed its 'AA+/A-1+' long- and short-term issuer credit ratings on the Swiss Canton of Solothurn. The outlook is stable. RATIONALE The ratings on Solothurn benefit from the "predictable and
