DALLAS (Standard & Poor's) Sept. 9, 2002--Standard & Poor's Ratings Services revised its outlook, and affirmed its single-'A'-plus underlying rating, on Lafayette, La.'s public improvement sales tax bonds and public improvement sales tax refunding bonds outstanding to stable from negative. At the same time, the rating agency assigned its single-'A'-plus standard long-term rating and stable outlook to the city's series 2002 $37.315 million public improvement sales tax refunding bonds. "The outlook revision reflects the city's stable and expanding economic base and long-term favorable trends in sales tax revenue growth," said credit analyst Wendy Wipperman. The economy has been heavily dependent on the oil and gas sector in the past; it, however, has diversified with growth in the retail, service, and...
Companies mentioned in this report are: Lafayette
Action: New Rating
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