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Summary: Elgin, Illinois; General Obligation May 11
Standard & Poors, May 2011
Standard & Poor's Ratings Services assigned its 'AA+' long-term rating to the City of Elgin, Ill.'s series 2011 general obligation (GO) corporate purpose bonds. At the same time, we affirmed our 'AA+' underlying rating (SPUR) on the city's previously issued GO debt. The outlook is stable. The ratings reflect our view of the city's: Participation in the deep and diverse Chicago metropolitan area economy and diverse employment opportunities, both within the city and in neighboring communities in the northwestern suburbs; Good income levels and strong market value per capita; Very strong reserves and strong financial management under our Financial Management Assessment (FMA) methodology; and Moderate overall debt burden. Partly offsetting the above strengths is our view of the city's above-average...
Companies mentioned in this report are:
Action: New Rating
Action: Outlook: Stable
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