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Cudahy, WI GO Debt Rating Raised To 'AA-' On Very Strong Reserves; Outlook Stable Nov 09 Product Image

Cudahy, WI GO Debt Rating Raised To 'AA-' On Very Strong Reserves; Outlook Stable Nov 09

  • ID: 1886738
  • November 2009
  • Standard & Poors

Abstract
CHICAGO (Standard & Poor's) Nov. 11, 2009--Standard & Poor's Ratings Services has raised its underlying rating (SPUR) on Cudahy, Wis.' general obligation (GO) debt to 'AA-' from 'A+', based on the city's maintenance of very strong reserves. The outlook is stable. At the same time, the rating service assigned its 'AA-' long-term rating to the city's $7.25 million series 2009A GO corporate purpose bonds and $3.95 million series 2009B taxable GO bonds. In Standard & Poor's opinion, the rating also reflects the city's: Access to the diverse Milwaukee, Wis. area economic base; Steady tax base growth due to successful redevelopment efforts; Management characterized as "good" under its Financial Management Assessment; and Sound financial operations. The city's moderately high debt levels...

Companies mentioned in this report are:
- Cudahy

Action: New Rating
Action: Outlook: Stable
Action: Upgraded

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.

Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

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Cudahy

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