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
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