Summary: Cudahy, Wisconsin; General Obligation Aug 10

Standard & Poors, August 2010

Abstract
Standard & Poor's Ratings Services assigned its 'AA-' long-term rating, and stable outlook, to Cudahy, Wis.' series 2010 general obligation (GO) refunding bonds and affirmed its 'AA-' ratings on the city's previously rated GO debt. The rating reflects Standard & Poor's opinion of the city's: Access to the diverse Milwaukee area economic base; Adequate income and strong wealth levels; Management characterized as "good" under our Financial Management Assessment; and Sound financial operations. The city's moderately high debt levels temper these strengths. The city's obligation to levy unlimited ad-valorem property taxes to pay debt service secures the bonds. The city will use proceeds to refund its outstanding 2001 bonds. Cudahy (estimated 2009 population: 18,660) is located eight miles south of downtown...

Companies mentioned in this report are: Cudahy
Action: New Rating
Action: Outlook: Stable

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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.

Cudahy

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