Zurich (awp) – Moody’s confirmed the long-term rating of the canton of Ticino at ‘Aa2’ and maintained the outlook at ‘stable’.
The rating agency highlights the solidity of the Ticino economy and the solid financial results of the canton as well as a very good government. The flexibility of taxation is very high and the degree of indebtedness is low in international comparison, the agency said on Friday evening.
Contingent liabilities are high, but consist mainly of bonds from the cantonal bank of Ticino (Banco Stato). The resulting risks are only moderate given the strong credit profile of the cantonal establishment and the close supervision of the federal supervisory authority Finma, added Moody’s.
jb/rp