- Published: May 2012
- Region: New York, United States
Syracuse, NY's Public Improvement Refunding Bonds Rated 'BBB+' Jun 04
- Published: June 2004
- Region: New York
- Standard & Poors
NEW YORK (Standard & Poor's) June 14, 2004--Standard & Poor's Ratings Services assigned its 'BBB+' rating to Syracuse, N.Y.'s $3.675 million public improvement refunding (serial) bonds series 2004A, reflecting the city's role as the regional employment center for central New York State, with an economic base characterized by declining population, low income levels, and a stagnant tax base. The rating also reflects the city's adequate financial position, based on sufficient fund balance reserves, and moderate-to-high overall debt burden, which is somewhat mitigated by a rapid amortization schedule. At the same time, Standard & Poor's affirmed its 'BBB+' rating on the city's approximately $190 million of outstanding general obligation debt. The outlook is stable based on the expectation that the city...
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Action: New Rating
Action: Outlook: Stable
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