|
|
 |
|
Viewing report
|
|
|
|
'BBB+' Rating Assigned To Gonzales, CA's Revenue Refunding Bonds, Outlook Stable Jun 11
Standard & Poors, June 2011
Abstract
SAN FRANCISCO (Standard & Poor's) June 10, 2011-- Standard & Poor's Ratings Services assigned its 'BBB+' long-term rating to Gonzales, Calif.'s series 2011 lease revenue refunding bonds. The outlook is stable. 'The rating reflects our view of the city's covenant to budget and appropriate lease payments and its underlying general creditworthiness. While the city's unrestricted general fund balance has been negative two of the past five years, we believe the city's consistently adequate-to-good cash balance somewhat mitigates this,' said Standard & Poor's credit analyst Kathleen Parmer. We understand that the city plans to use bond proceeds to refund a portion of its outstanding series 2006 Gonzales Redevelopment Project Area No. 1 subordinate tax allocation notes. RELATED CRITERIA AND RESEARCH USPF...
Companies mentioned in this report are: Gonzales
Action: New Rating
Action: Outlook: Stable
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: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
|
|
|
|
