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
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