- Language: English
- Published: November 2011
- Region: New York
Summary: Syracuse, New York; Appropriations; General Obligation; Note May 11
- ID: 1793847
- May 2011
- Region: New York
- Standard & Poors
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:
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 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.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included. SHOW LESS READ MORE >