Summary: Riga Town, New York; General Obligation Sep 11

Standard & Poors, September 2011

Abstract
Standard & Poor's Ratings Services assigned its 'AA-' rating and stable outlook to Riga Town, N.Y.'s series 2011 general obligation (GO) public improvement bonds and affirmed its 'AA-' rating, with a stable outlook, on the town's existing GO public improvement bonds. The rating reflects our opinion of the town's: Access to the greater Rochester regional employment base, Diverse and growing property tax base, and Strong finances. We believe somewhat offsetting credit factors include the town's: Adequate property wealth, Dependency on landfill revenue to meet annual operational expenses, and Moderate debt with limited additional capital and debt needs. The town's GO pledge secures the bonds. Officials plan to use bond proceeds to fund the cost of constructing Riga Water Improvement Benefit...

Companies mentioned in this report are: Riga Twn
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.

Riga Twn

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