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Summary: Stratford, Connecticut; General Obligation Dec 10
Standard & Poors, December 2010
Standard & Poor's Ratings Services assigned its 'AA-' long-term rating, and stable outlook, to the town of Stratford, Conn.'s series 2010A general obligation (GO) bonds. Standard & Poor's also affirmed its 'AA-' underlying rating (SPUR) and 'AA-' long-term rating, with a stable outlook, on the town's existing GO parity debt. The 'AA-' rating reflects our opinion of the town's: Location near the employment centers of the deep and diverse Bridgeport-Stamford-Norwalk-Danbury metropolitan statistical area (MSA); Strong income levels and extremely strong per capita market values; and Moderate debt burden, manageable additional capital needs, and above-average amortization. We consider the town's reserve position only adequate, which somewhat offsets the above credit strengths. We understand that the town will use bond proceeds to...
Companies mentioned in this report are: Stratford Twn
Action: New Rating
Action: Outlook: Stable
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