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Summary: Oneonta, Alabama; General Obligation Sep 11

  • ID: 1927748
  • September 2011
  • Region: Alabama
  • Standard & Poors
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Standard & Poor's Ratings Services assigned its 'A' rating and stable outlook to Oneonta, Ala.'s series 2011A and 2011B general obligation (GO) warrants. The rating reflects our view of the city's: Participation in the Birmingham-Hoover metropolitan statistical area's (MSA) diverse economic base, Historically very strong finances, and Moderate debt with no additional debt-financed capital needs. We believe these credit strengths are somewhat weakened by the city's: Adequate wealth and income, and Limited property tax revenue-raising flexibility. The city's full-faith-and-credit pledge secures the warrants. Officials plan to use warrant proceeds to refund portions of the city's series 2004 warrants. Oneonta, with a population estimate of 6,942, is in east-central Blount County. The city, 30 miles northeast of Birmingham and 60 miles...

Companies mentioned in this report are: Oneonta,Oneonta
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 READ MORE >

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