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Summary: Staunton, Virginia; General Obligation

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Abstract
Standard & Poor's Ratings Services affirmed its 'A+' underlying rating (SPUR), with a stable outlook, on Staunton, Va.'s general obligation (GO) bonds. The rating reflects our view of the city's: Primarily residential area with a local economy anchored in the manufacturing and service sectors that continue to experience gradual diversification; Consistent growth in a very diverse property tax base; Adequate wealth and income indicators and unemployment on par with commonwealth and below national averages; Stable financial operations, bolstered by very strong reserves; and Moderate debt burden and manageable additional capital needs. The city's full faith and GO credit pledge secures the bonds. Staunton, with a population estimate of 23,642, covers 20 square miles in the Shenandoah Valley of Virginia. The

Article Type:SUMMARY
Companies mentioned in this report are: Staunton
Action: Affirmed
Action: Outlook: Stable

 
Companies Mentioned
Staunton
 
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Summary: Staunton, Virginia; General Obligation

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