- Language: English
- Published: January 2012
- Region: Kansas
Summary: Augusta. Kansas; General Obligation; General Obligation Equivalent Security; Note Oct 11
- Published: October 2011
- Region: Kansas
- Standard & Poors
Standard & Poor's Ratings Services assigned its 'SP-1+' short-term rating to the City of Augusta, Kan.'s series 2011-3 general obligation (GO) temporary notes. At the same time, Standard & Poor's affirmed its 'A+' long-term rating and 'SP-1+' short-term rating on the city's GO debt outstanding. The outlook on the long-term rating is stable. The long-term rating reflects what we view as the city's: Participation in the Wichita, Kan., metropolitan statistical area's (MSA) deep economy, which is concentrated in aircraft-manufacturing employment; Very strong financial position, with three years of operating surpluses, albeit on a cash basis; and Good income levels. We believe these strengths are offset in part by what we consider the city's: Moderately high overall debt as a percent...
Companies mentioned in this report are:
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. SHOW LESS READ MORE >