Summary: Norwalk Community Facilities Financing Authority, California Norwalk; Appropriations Mar 13
- Language: English
- Published: March 2013
- Region: California
Standard & Poor's Ratings Services assigned its 'AAA' rating, and stable outlook, to Norwalk, Conn.'s series 2010 general obligation (GO) 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 proximity to regional employment centers; Strong income levels, 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; Strong management practices and operating flexibility to manage through the recession; and Moderate-to-low debt burden, net of self-supporting enterprise funds. The city is issuing these bonds to refund various series...
Companies mentioned in this report are:
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. SHOW LESS READ MORE >