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Summary: Oneonta, Alabama; General Obligation Sep 11

  • ID: 1927748
  • September 2011
  • Region: Alabama
  • Standard & Poors

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

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