- Language: English
- Published: July 2012
Summary: The Navajo Nation, Arizona; General Obligation
- ID: 1790797
- May 2011
- Region: Arizona
- Standard & Poors
Standard & Poor's Ratings Services assigned its 'A' issuer credit rating (ICR), and stable outlook, on The Navajo Nation, Ariz. The rating reflects our opinion of the nation's: Strong financial position, supported by solid reserves when including the nation's permanent fund, which is a self-created endowment fund; Revenue-generating natural resource assets, coupled with additional revenue streams; Financial flexibility provided within tax revenue sources with flexible tax rates; and Good management policies that support permanent fund growth and that will likely restore general fund reserves to policy levels. We believe offsetting strengths include the nation's: Decreased general fund position as of audited 2009 that highlights some uncertainty around revenue predictability and expenditure decisions -- Nation officials, however, have implemented policy changes;...
Companies mentioned in this report are: Navajo Nation
Action: New Rating
Action: Outlook: Stable
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
SHOW LESS READ MORE >