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Rating agency Standard & Poor’s has again rated the debtor quality of the Canton of Basel-Landschaft very highly. It confirmed the positive rating of ‘AA+/A-1+’ as well as the ‘stable’ outlook.
With its latest rating, Standard & Poor’s has confirmed both the long-term and short-term rating, thus again certifying the Basel area as an issuer with a good credit rating, according to a statement from the Canton of Basel-Landschaft.
The rating agency based its evaluation on the “very good” annual accounts for 2017, the region’s strong economy, and the “stable and predictable government framework conditions”.
The good rating was awarded “despite the relatively high debt level”, explained the canton. Standard & Poor’s clearly addresses this in its report, but goes on to explain that it expects the canton will “stabilize its debt ratio”. An improvement is also expected for the financial plan years 2018 to 2021.
Standard & Poor’s also re-confirmed the outlook as “stable” as a result of the canton’s efforts to further stabilize and reduce the debt level, as well as balance the operating budget in the long term.