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Summary: Cincinnati, Ohio; General Obligation Mar 08
Standard & Poors, March 2008
The 'AA+' rating on Cincinnati, Ohio's series 2008A unlimited-tax various purpose general obligation (GO) bonds and series 2008B unlimited-tax various purpose GO bonds (additional municipal income tax pledge) reflects the city's: Deep and diverse economic base; Good financial practices and strong reserve levels; and Manageable future capital needs, despite above-average debt. The city's reliance on economically sensitive income taxes, though mitigated by efforts to maintain a substantial financial cushion, is an offsetting factor. The city's unlimited-tax GO pledge secures the bonds. The series 2008B GO bonds include a municipal income tax pledge, but are ultimately secured by the city's full faith and credit GO pledge. Cincinnati (population, 317,361) is the center of a substantial economic base that is characterized by...
Companies mentioned in this report are:
Action: New Rating
Action: Outlook: Stable
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