Bonds rate well in some key world cities

Bond insurers may be watching their ratings go down, but credit rating agency Standard & Poor's gave some of the world's biggest cities high fives (from Paris's AAA to Moscow's BBB-plus) in 2007.

S&P's "World's Top 10 Economic Centers," released Dec. 13, ranks cities on how economically vital they are in terms of gross domestic product per capita and unemployment; their creditworthiness; and by capital expenditures and as providers of services. The cities must be regional commercial hubs and major population centers in their respective countries. The countries must also be among the world's largest economies.

The top 10, according to creditworthiness: Paris; London; Madrid; New York; Toronto; Los Angeles; Chicago; Yokohama, Japan; Milan, Italy and Moscow.

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