In a press release, the president of the board of the Channel, Jean-François Le Grand, responded to the assignment of the note AA by Fitch Ratings agency.
In its analysis the agency says “the Channel of notes based on its sound budgetary performance, its moderate leverage and quality of governance. The stable outlook indicates that the Department should be able to maintain financial performance consistent with the current rating. “
The agency continues its analysis by explaining that ” debt moderate “ and ‘debt ratios are comfortable, with an estimated debt of dynamic capacity of 5.4 years at end 2014 and a good coverage of debt service.”
Sound management and less investment
score after examining the financial position of the community at the end of 2014. “It is particularly positive that several departments have recently seen their perspective be degraded to “negative” by Standard and Poor’s, due to the multiannual financial context of communities, insists Jean-François Le Grand. This confirms the sound and rigorous management of the General Council of the Channel. “
Rigorous management that responds to the increase in recent years of the share of the budget devoted to social and a sharp decline in government grants. But management is not without impact on the economy of the department since the 2015 budget provides for 75 million euros of investment. 15 million less than in 2014. And 10 million less than the average of the years 2010 (€ 85 million). As a reminder, the culmination of investments for the department was in 2006, with € 125 million.
No comments:
Post a Comment