Summary: North Myrtle Beach, South Carolina; General Obligation Aug 11
Standard & Poors, August 2011
Abstract
Standard & Poor's Ratings Services assigned its 'AA' rating and stable outlook to North Myrtle Beach, S.C.'s series 2011 general obligation (GO) bonds. The rating reflects our view of the city's: Large and diverse economic base, anchored by, what we consider, strong tourism and recreation components, that has demonstrated good growth; Strong finances, characterized by the historical maintenance of, what we view as, very strong reserves, according to city policy; and Low overall debt as a percent of market value with, what we regard as, fast amortization and manageable additional capital needs, somewhat offset by high overall debt per capita. The 2011 bonds are a GO of the city, and the city's full-faith-and-credit pledge secures the bonds. Management plans to...
Companies mentioned in this report are: North Myrtle Beach
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.
North Myrtle Beach
Customers who bought this item also bought
All rights reserved. © Copyright 2013 Research and Markets WWW5
Terms and Conditions Privacy Policy Publishers Employment Opportunities Site Map Link to us Webmaster Affiliate Network
