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Summary: Norwalk, Connecticut; General Obligation Jan 10

  • ID: 1834367
  • January 2010
  • Region: Connecticut
  • Standard & Poors

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:
- Norwalk

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

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