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A Review of 'AAA' Rated Municipalities
Standard & Poors, Jan 2000
Abstract
Since Standard & Poor's October 1998 review of 'AAA' rated communities, two additional municipalities-- Santa Monica, Calif. and Cambridge, Mass.--earned the highest rating. Now 32 local governments hold this coveted rating. This year's entrants continue a trend which began last year when Wellesley, Mass. and Palo Alto, Calif. became the first municipalities in states with property tax limitations to achieve a 'AAA' rating. The recent additions highlight factors contributing to municipalities earning 'AAA' ratings: Increasingly proactive management; Low to moderate debt levels; Economies that have outperformed the region in recessions and expansions; Typically higher wealth levels; and Strong financial positions that provide a safety net for virtually all potential uncertainties. This article reviews some of the key factors leading to...
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.
Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
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