- Published: May 2012
- Region: New York, United States
Summary: Webster City, Iowa; General Obligation Oct 11
- Published: October 2011
- Region: Iowa
- Standard & Poors
Standard & Poor's Ratings Services assigned its 'AA-' long-term rating to Webster City, Iowa's series 2011A general obligation (GO) refunding bonds and affirmed its 'AA-' long-term rating on the city's existing debt. The outlook is stable. The rating reflects our assessment of the city's: Manufacturing-based local economy and access to other employment centers, including Ames, Iowa; Very strong reserve levels; and Moderate overall debt burden. The preceding credit strengths are offset in part, in our view, by the city's adequate but below-average market value per-capita and income levels, as well as the loss of the majority of jobs at a major employer in the city. The city's unlimited-tax GO pledge secures the bonds. Bond proceeds will current refund the city's...
Companies mentioned in this report are: Webster City
Action: New Rating
Action: Outlook: Stable
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