Des Moines, Iowa; General Obligation Jun 08
Standard & Poors, June 2008
Abstract
The standard long-term rating and Standard & Poor's underlying rating (SPUR) on Des Moines, Iowa's general obligation (GO) debt have been raised to 'AAA' from 'AA+', reflecting the city's continued growth and development and continued strong financial operations. The city's series 2008 GO bonds have been rated 'AAA'. The rating also reflects the city's: Status as the center of a growing economy and diverse employment base; Revenue raising flexibility; Proactive management and sound policies; and Moderate debt burden that should remain stable due to an articulated debt policy. With a population of nearly 200,000, Des Moines is the state's largest city. According to Global Insight, job growth in the Des Moines area outperforms the country. Des Moines' employment level increased...
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
Des Moines
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