- Published: May 2012
- Region: United States
Norwalk, Connecticut; General Obligation Feb 09
- Published: February 2009
- Region: Connecticut
- Standard & Poors
Standard & Poor's Ratings Services assigned its 'AAA' rating, and stable outlook, to Norwalk, Conn.'s series 2009 general obligation (GO) refunding bonds and affirmed its 'AAA' rating, with a stable outlook, on the city's GO debt outstanding. The 'AAA' rating reflects our opinion of the city's: Deep, diverse economic base and ongoing mixed-use development; Location and proximity to regional employment centers; Strong income levels, as evidenced by median household effective buying income at 132% of the national level; Extremely strong property tax base with a market value in excess of $248,112 per capita; Trend of favorable operating results and strong reserves; Strong management practices; and Moderate-to-low debt burden, net of self-supporting enterprise funds. The city is issuing the bonds to...
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