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Arlington County, VA's Deep, Diverse Economy & Strong Finances Support 'AAA' GO Bond Rating Apr 03
Standard & Poors, April 2003
Abstract
BOSTON (Standard & Poor's) April 18, 2003--Standard & Poor's Ratings Services assigned its 'AAA' rating, and stable outlook, to Arlington County, Va.'s $142 million general obligation public improvement and refunding bonds, which are scheduled to sell on April 29. The rating agency also affirmed its 'AAA' rating on the county's general obligation debt outstanding. 'The county's deep and diverse economic base, above-average wealth indicators, strong financial operations and reserves, and increasing, yet manageable, debt burden are factors that support the high investment-grade rating,' said credit analyst Geoffrey Buswick. The county's full faith and credit pledge secures the bonds, the proceeds of which will be used to fund various capital projects ($33.6 million) and school projects ($41.4 million) and partially refund...
Companies mentioned in this report are: Arlington Cnty
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
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.
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