Summary: Cincinnati, Ohio; General Obligation Jun 10

Standard & Poors, June 2010

Abstract
The 'AA+' long-term rating assigned to Cincinnati, Ohio's series 2010A-2010G unlimited-tax general obligation (GO) bonds and the 'AA+' ratings on the city's other GO debt reflect the following credit factors: A deep and diverse economic base; Maintenance of reserve levels above the city's stated policies; Financial management practices that Standard & Poor's Ratings Services considers to be good; and Limited additional debt needs. The city's reliance on economically sensitive income taxes, although mitigated by efforts to maintain a substantial financial cushion, is an offsetting factor. The city's unlimited-tax GO pledge secures the bonds. The city is issuing the bonds for a variety of purposes, but primarily to fund economic development projects. The series 2010B and 2010E bonds include a municipal...

Companies mentioned in this report are:
- Cincinnati

Action: Affirmed
Action: New Rating
Action: Outlook: Stable

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.

This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.

- Cincinnati

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