Euroland Municipal Bonds: New city states
If only all metropolitan areas were as comfortable with capital markets as the Région d’Ile de France, investment bankers’ hopes of a lively, US-style municipal bond sector might come true. Since its debut in 1992, it has raised €1,275 million ($1.43 billion) through 12 bonds in seven currencies.
Uniquely in Latin Europe, Ile de France, which has Paris at its centre, has a triple-A rating from both Standard & Poor’s and Moody’s.
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