Summary: West Lafayette Building Corp., Indiana West Lafayette; General Obligation; General Obligation Equivalent Security Sep 11

Standard & Poors, September 2011

Abstract
Standard & Poor's Ratings Services assigned its 'AA' long-term rating and stable outlook to West Lafayette Building Corp., Ind.'s series 2011 first-mortgage refunding bonds, supported by the city of West Lafayette. We also affirmed the 'AA' long-term and underlying ratings (SPUR) on existing debt supported by the city. The ratings reflect the city's: Role as a regional employment and services center, anchored by Purdue University; Very strong general fund reserves, supported by additional unrestricted reserves outside of the general fund; and Low debt burden with no debt plans. Despite being indicative of the large student population, the city's low income level partially offsets these strengths. The 'AA' rating on West Lafayette Redevelopment Authority's series 2001 lease rental bonds has been...

Companies mentioned in this report are: West Lafayette,West Lafayette Redev Auth,West Lafayette Bldg Corp
Action: Affirmed
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.

West Lafayette,West Lafayette Redev Auth,West Lafayette Bldg Corp

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