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Article: CANADA: MOODY'S ISSUES ANNUAL REPORT ON CITY OF MONTREAL.
- Article from:
- IPR Strategic Business Information Database
- Article date:
- May 17, 2009
CopyrightCOPYRIGHT 2009 Info-Prod (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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In its annual report on Montreal, Moody's Investors Service says the city's Aa2 long-term debt and issuer ratings reflect stable financial performance supported by predictable property tax revenues, and a large and diverse economic base. The rating also incorporates Montreal's above-average debt burden. "Montreal's stable financial performance has been supported by predictable revenue streams based primarily on property taxes," says Moody's Vice President Debra Roane, lead analyst for Montreal. The city has generated operating surpluses averaging nearly 14% of revenues over the five years through 2007. "These results were achieved despite challenges associated with ...
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