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Myrtle Beach, South Carolina; Appropriation, Appropriations; Tax Secured, General Obligation Apr 06
Standard & Poors, April 2006
Standard & Poor's Ratings Services assigned its 'AA-' rating to Myrtle Beach, S.C.'s GO bonds, series 2006A, 2006B, and 2006C, and affirmed its 'AA-' rating and 'AA-' underlying rating (SPUR) on the city's outstanding GO bonds. The 'AA-' rating reflects: A local economy, anchored by tourism and recreation, that has proven to be resilient through various economic cycles; Above-average tax base growth; Continued sound financial operations; and A manageable capital plan. These factors are offset by lower wealth and income levels and a high overall debt burden on a per capita basis. Myrtle Beach, the largest city in Horry County, is 90 miles north of Charleston and 23 miles south of the North Carolina border. The city's population of about...
Companies mentioned in this report are: Myrtle Beach
Action: New Rating
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Research Type: Full Analysis