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Cincinnati, Ohio; General Obligation May 06
Standard & Poors, May 2006
The 'AA+' rating on Cincinnati, Ohio's unlimited-tax various purpose GO bonds reflects the city's: Deep and diverse economic base, Good financial practices and strong reserve levels, and Moderate debt burden with manageable capital needs. The city's reliance on economically sensitive income taxes, though mitigated by efforts to maintain a substantial financial cushion, is an offsetting factor. The series 2006A and 2006C bonds are secured by the city's unlimited-tax GO pledge. The series 2006B bonds are secured by the city's pledge of municipal income taxes, but are also backed by an unlimited-tax GO pledge. Cincinnati (population, 317,361) is the center of a substantial economic base that is characterized by jobs in a diverse industrial base that is also experiencing growth in...
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Action: New Rating
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