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Summary: Myrtle Beach, South Carolina; Appropriations; General Obligation Jul 11 Product Image

Summary: Myrtle Beach, South Carolina; Appropriations; General Obligation Jul 11

  • Published: July 2011
  • Standard & Poors

FEATURED COMPANIES

Abstract
Standard & Poor's Ratings Services assigned its 'AA' long-term rating and stable outlook to Myrtle Beach, S.C.'s series 2011A and 2011B general obligation (GO) refunding bonds. At the same time, Standard & Poor's affirmed its 'AA' long-term and underlying rating (SPUR) on the city's outstanding GO debt and its 'AA-' long-term rating on the city's outstanding certificates of obligation and limited obligation bonds. The outlook is stable. The 'AA' rating reflects our view of the city's: Economy, anchored by strong tourism and recreation components, that has proven resilient through various economic cycles and shown good growth; Continued sound financial operations, characterized by historical maintenance of very strong reserves; and Moderate debt burden as a percent of market value, with a...

Companies mentioned in this report are: Myrtle Beach
Action: Affirmed
Action: New Rating
Action: Outlook: Stable

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Myrtle Beach

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