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Credit ratings, research and analysis on regional and local governments as well as on a wide array of public-sector entities with specialized mandates in both the developed and emerging markets, including mass transportation, health care, water systems, social housing, higher education, and charity trusts.


  • 9 May 2016
    • Brexit would have negative impact on UK public sector issuers
      If the UK exits the EU, public sector entities in the UK could be impaired through lower EU funding or lower central government spending transfers. Revenues could also face pressure from moderately lower economic growth and any immigration curbs. All public sector entities are vulnerable, with universities and Transport for London (TfL) facing greater downside risks…Full Report
  • 5 May 2016
    • Istanbul and Izmir benefit from strong self-financing capacity
      Growing tax revenues and solid economic expansion will help Istanbul and Izmir meet their high capital expenditure requirements in 2016-17. While infrastructure development is set to absorb around half of the two municipalities' total spending during the period, their debt will likely rise only moderately…Full Report
  • 12 Apr 2016
    • Czech regional and local governments’ finances will further strengthen in 2016-17
      Rising operating revenue driven by sustained economic growth and rising receipts from shared taxes will boost the budgetary performance of Czech RLGs. The sector's already robust operating balance will strengthen by 3% in 2016-17, giving it a financial surplus of 1-2% of total revenue. RLGs will likely borrow less in 2016-17 just as their revenue growth accelerates, reducing their debt as a proportion of revenues…Full Report
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