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Summary: Syracuse, New York; Appropriations; General Obligation; Note May 11 Product Image

Summary: Syracuse, New York; Appropriations; General Obligation; Note May 11

  • Published: May 2011
  • Region: New York
  • Standard & Poors

Abstract
Standard & Poor's Ratings Services assigned its 'A-' rating and stable outlook to Syracuse, N.Y.'s series 2011A public improvement bonds, and its 'SP-1' short-term rating to the city's series 2011A airport bond anticipation notes. Standard & Poor's also affirmed the 'A-' rating, with a stable outlook, on the city's outstanding general obligation (GO) debt. The ratings reflect our opinion of the city's: Role as the regional commercial and employment center for central New York; Weak economic indicators that include a declining population, low income levels, and a property tax base that has recently seen only modest growth; Continued good financial position, although the recent economic downturn has led to a significant drop in general fund reserves; and Moderate overall debt...

Companies mentioned in this report are:
- Syracuse

Action: Affirmed
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 READ MORE >

Syracuse

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