- Language: English
- Published: May 2013
- Region: Wisconsin
Summary: Cudahy, Wisconsin; General Obligation Nov 09
- ID: 1887072
- November 2009
- Region: Wisconsin
- Standard & Poors
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 city's series 2009A GO corporate purpose bonds and series 2009B taxable GO bonds have been rated 'AA-'. In our 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 our Financial Management Assessment; and Sound financial operations. The city's moderately high debt levels temper these strengths. The city's obligation to levy unlimited ad valorem property taxes to pay debt service secures the bonds, but the city intends to...
Companies mentioned in this report are:
Action: New Rating
Action: Outlook: Stable
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.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included. SHOW LESS READ MORE >