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Summary: Racine, Wisconsin; General Obligation; Note Jul 10
Standard & Poors, July 2010
The 'SP-1+' short-term rating assigned to Racine, Wis.' note anticipation notes series 2010 reflects the 'AA' long-term rating on the city's general obligation (GO) bonds and the city's ability to refund the notes with long-term GO promissory notes. The 'AA' rating assigned to the city's series 2010 GO refunding bonds and on its previously issued GO debt reflects Standard & Poor's Ratings Services' opinion of its: Diverse, manufacturing-based economy that participates in the Milwaukee and northern Chicago metropolitan statistical area economies; Strong financial management, operations, and reserves; and Debt burden we consider to be moderate. Offsetting factors are the city's below-average income levels and high unemployment rates. The city will use the note proceeds to fund a portion of its...
Companies mentioned in this report are:
Action: New Rating
Action: Outlook: Stable
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