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Summary: Monona, Wisconsin; General Obligation Feb 10
Standard & Poors, February 2010
Standard & Poor's Ratings Services has assigned its 'AA' rating to Monona, Wisc.'s 2010 taxable general obligation (GO) promissory notes and GO refunding bonds. Standard & Poor's also affirmed its 'AA' rating on the city's GO debt outstanding. The outlook is stable. The rating reflects our assessment of the city's: Participation in the Madison, Wisc. economic base; Good income and extremely strong wealth indicators; and Very strong fund balance levels. In our opinion, the city's high overall debt burden is a limiting factor. The city's GO pledge secures both bond issues. Monona intends on issuing the notes as Federally Taxable "Build America Bonds", in which the city will receive a 35% interest credit. The city intends on levying on a...
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Action: New Rating
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