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Summary: Manhattan, Kansas; General Obligation May 09

  • ID: 1952201
  • May 2009
  • Region: Kansas
  • Standard & Poors
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Standard & Poor's Ratings Services assigned its 'AA' rating, and stable outlook, to Manhattan, Kan.'s series 2009A general obligation (GO) bonds and series 2009B GO refunding bonds. In our opinion, the rating reflects the city's: Stable economic base, anchored by Kansas State University and Fort Riley; Strong wealth levels; Very strong historical financial position, supported by good financial practices; and Moderate debt levels with additional growth-related debt-financed capital needs. The city's GO pledge secures the bonds. City officials intend to meet some debt service payments on these bonds with special assessments on properties benefited by the construction of certain public improvements. The 18.5-square-mile Manhattan, with a population estimate of 51,727, is mainly in Riley County with a small portion extending...

Companies mentioned in this report are:
- Manhattan

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 READ MORE >

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- Manhattan

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