Summary: Milford, Delaware; General Obligation May 11

Standard & Poors, May 2011

Abstract
Standard & Poor's Ratings Services assigned its 'AA-' rating and stable outlook to Milford, Del.'s series 2011A and 2011B general obligation (GO) bonds and affirmed its 'AA-' rating, with a stable outlook, on the city's existing debt. The rating reflects our assessment of the city's: Role as a regional commercial center, evidenced by high per capita retail sales; Extremely strong market value per capita; Very strong financial profile; and Debt burden that is almost entirely self-supporting. We believe the city's general fund, which is heavily reliant on transfers from enterprise funds, mitigates these strengths. The bonds are a GO of the city; the city's full faith, credit, and taxing power secures the bonds. Officials plan to use series A bond...

Companies mentioned in this report are: Milford
Action: Affirmed
Action: New Rating
Action: Outlook: Stable

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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.

Milford

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