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Summary: Syracuse, NY; Tax Secured, General Obligation; Tax Secured, School State Program Oct 04 Product Image

Summary: Syracuse, NY; Tax Secured, General Obligation; Tax Secured, School State Program Oct 04

  • ID: 1793677
  • October 2004
  • Region: New York
  • Standard & Poors

Abstract
Standard & Poor's Ratings Services assigned its 'BBB+' rating to Syracuse, N.Y.'s $8.264 million public improvement (serial) bonds series 2004F and $8.472 million pension obligation bonds series 2004G, reflecting: The city's role as the regional employment center for central New York State; An economy characterized by declining population, low income levels, and a stagnant tax base; Adequate financial position based on sufficient fund balance reserves; and A moderate-to-high overall debt burden that is somewhat mitigated by a rapid amortization schedule. The series 2004F and G bonds are secured by the city's faith and credit GO pledge. Series 2004F bond proceeds will be used to finance general city and water system capital projects. The series 2004G bonds will be used to...

Companies mentioned in this report are:
- Syracuse

Action: Affirmed
Action: New Rating
Action: Outlook: Stable

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