Outlook Revised To Negative On Cincinnati, OH GO Bonds Due To Revenue Losses, Imbalanced Budget Nov 12
- Language: English
- Published: November 2012
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...
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Action: New Rating
Action: Outlook: Stable
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