Shreveport, Louisiana; Appropriations; General Obligation May 11
- ID: 1806342
- May 2011
- Region: Louisiana
- Standard & Poors
Standard & Poor's Ratings Services assigned its 'A+' long-term rating to Shreveport, La.'s series 2011 general obligation (GO) bonds. In addition, Standard & Poor's affirmed it's 'A+' long-term and underlying rating (SPUR) on the city's outstanding GO debt. Finally, Standard & Poor's affirmed its 'A' SPUR on the city's existing appropriation debt. The outlook on all bonds is stable. Standard & Poor's considers debt secured by lawfully available revenues to be equivalent to an appropriations pledge, and therefore, rates the outstanding appropriation debt one notch below the city's 'A+' GO rating. We believe the ratings reflect the city's: Role as a regional economy, which is reflected in very strong per capita retail sales; Service sector-based economy centered on retail trade,...
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Action: New Rating
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