Rating On Cudahy Community Development Commission, CA's 2003A Bonds Lowered To 'BBB+' On Declining Coverage Mar 12
- Language: English
- Published: March 2012
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...
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Action: New Rating
Action: Outlook: Stable
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