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Summary: Norwalk, Connecticut; General Obligation; General Obligation Equivalent Security Jul 10

  • ID: 1834023
  • July 2010
  • Region: Connecticut
  • Standard & Poors

Standard & Poor's Ratings Services assigned its 'AAA' rating and stable outlook to Norwalk, Conn.'s series 2010E general obligation (GO) bonds and 2010F general obligation federally taxable recovery zone economic development bonds and affirmed its 'AAA' rating, with a stable outlook, on the city's existing GO debt. The rating reflects our opinion of the city's: Deep, diverse economic base and ongoing mixed-use development; Location and access to regional employment centers; Strong income levels and an extremely strong property tax base; Strong management practices and operating flexibility to manage through the recession; and Moderate-to-low debt burden, net of self-supporting enterprise funds. It is our understanding that proceeds will be used to finance various city-wide capital projects. Norwalk, with a population estimate...

Companies mentioned in this report are:
- Norwalk

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. READ MORE >

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