Standard & Poor's Ratings Services assigned its 'A-' long-term rating to Marysville Public Financing Authority, Calif.'s series 2011 taxable refunding certificates of participation (COPs), issued on behalf of Marysville. At the same time, Standard & Poor's affirmed its long-term 'A-' rating on the city's outstanding COPs. The outlook on all ratings is negative. The rating reflects our view of the city's: Adequate household income levels, as evidenced by an effective buying income (EBI) equivalent to 81% of the national level; Diverse property tax base, with the leading 10 taxpayers representing 17.5% of total assessed value (AV); and Below-average debt levels. The rating is constrained by our view of the city's: Low unreserved fund balance equivalent to 0.14% of general fund...
Companies mentioned in this report are:
- Marysville Pub Fincg Auth
Action: New Rating
Action: Outlook: Negative
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