CHICAGO (Standard & Poor's) Oct. 7, 2011--Standard & Poor's Ratings Service has assigned its 'A+' long-term rating to St. Joseph County Airport Authority (SJCAA), Ind.'s 2011 general obligation (GO) bonds. The outlook is stable. "In part, the rating reflects our view of the authority's ability to levy an ad valorem property tax, the local economy's continued growth and diversification, and no additional debt plans along with a direct debt burden of only about $17 million," said Standard & Poor's credit analyst Christopher Krahe. Bonds proceeds will finance a portion of the airport's terminal improvement project, as well as reimburse SJCAA for parts of the project already completed. The bonds are an obligation of the authority, a special taxing district operated...
Companies mentioned in this report are: St Joseph Cnty Arpt Auth
Action: New Rating
Action: Outlook: Stable
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