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

  • ID: 1886738
  • November 2009
  • Standard & Poors
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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

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Research type: News
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