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Des Moines, Iowa; Tax Secured, General Obligation Jun 04

Description:
Abstract
The 'AA+' rating on Des Moines, Iowa's GO bonds and taxable GO bonds series 2004C-2004E reflects the city's: Strong economy and diverse employment base; Good financial operations; Strong, proactive management; and Moderate debt burden. The 'AA+' standard long-term rating and Standard & Poor's underlying rating (SPUR) on the city's outstanding GO debt have been affirmed. With a population of nearly 199,000, Des Moines is the state's largest city. It is also the state capital and Polk County's seat. The metropolitan area serves as a national center for the insurance industry and a regional finance, health care, and service center. Des Moines' 2003 unemployment rate, which averaged 4.8%, was slightly above the state average of 4.3%; unemployment is consistently below the...

Companies mentioned in this report are: Des Moines
Action: New Rating


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: Full Analysis
 
Companies Mentioned
Des Moines
 
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