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Summary: Monona, Wisconsin; General Obligation Aug 10
Standard & Poors, August 2010
Standard & Poor's Ratings Services affirmed its 'AA' long-term rating on Monona, Wis.'s 2010 taxable general obligation (GO) promissory notes. The outlook is stable. In our view, the rating reflects the city's: Participation in the Madison economic base; Good income and extremely strong wealth indicators; and Very strong fund balance levels. The city's high overall debt burden is a limiting factor. Monona's GO pledge secures the notes, the proceeds of which will refund the city's 2007 notes for interest cost savings. Final maturity on the notes is Oct. 1, 2015. The city of Monona is located in eastern Dane County, about eight miles east of Madison, the state capital and home to the University of Wisconsin's flagship campus. Monona's population...
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Action: Outlook: Stable
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