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Summary: Riga Town, New York; General Obligation Sep 11
Standard & Poors, September 2011
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: New Rating
Action: Outlook: Stable
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