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Oxnard, CA Assigned 'A+' Issuer Credit Rating on Growing Economy Feb 03

  • ID: 1820496
  • February 2003
  • Standard & Poors
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SAN FRANCISCO (Standard & Poor's) Feb. 18, 2003--Standard & Poor's Ratings Services has assigned its 'A+' issuer credit rating to the City of Oxnard, Calif., based on the city's growing local economy and prudent financial management. The outlook is stable. "Over the past five years, Oxnard has demonstrated strong population growth, as residents and businesses are attracted to the affordable home prices and coastal location," said Standard & Poor's credit analyst Kelly McGary. "The city has also demonstrated good financial performance, and its balanced operations for fiscal 2002 brought its unreserved fund balance to $25.5 million, a healthy 36% of expenditures." Oxnard has $35 million in new debt planned for the near term. The City of Oxnard is located in...

Companies mentioned in this report are: Oxnard
Action: New Rating

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
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