Summary: Rogers, Arkansas; Sales Tax Oct 11

Standard & Poors, October 2011

Abstract
Standard & Poor's Ratings Services assigned its 'AA' long-term rating and stable outlook to Rogers, Ark.'s series 2011 sales and use tax revenue refunding and improvement bonds and affirmed its 'AA' long-term rating and underlying rating (SPUR), with a stable outlook, on the city's existing sales and use tax debt. The rating reflects our opinion of the city's: Expanding regional economic base; 2.28x maximum annual debt service (MADS) coverage; Very strong legal provisions, including an early redemption feature that effectively shortens bond maturity; and Strong growth in pledged sales and use tax revenue before the national economic downturn. We believe the city's plans to issue additional parity debt somewhat constrains the rating. A first-lien pledge on an existing 1% sales...

Companies mentioned in this report are: Rogers
Action: Affirmed
Action: New Rating
Action: Outlook: Stable

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Rogers

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