St. Joseph County Airport Authority, IN, 2011 General Obligation Bonds Rated 'A+'; Outlook Stable Oct 11
Standard & Poors, October 2011
Abstract
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
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.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
St Joseph Cnty Arpt Auth
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