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Lafayette,LA GO Bond Rating Raised to 'A'; Outlook Stable Jan 00 Product Image

Lafayette,LA GO Bond Rating Raised to 'A'; Outlook Stable Jan 00

  • ID: 1953299
  • January 2000
  • Standard & Poors

Abstract
DALLAS (Standard & Poor's CreditWire) Jan. 6, 2000--Standard & Poor's today raised its rating on Lafayette, La.'s $30,000 GO bonds to single-'A' from single-'A'-minus. The outlook is stable. The upgrade is due to the ongoing expansion and diversification of the economic base, strong growth in the tax base, and the consolidation of the city and parish governments, which has resulted in reduced operating costs while maintaining the city's strong financial position. Lafayette is located in southern Louisiana, halfway between New Orleans and Houston. Historically, the economy has been heavily dependent upon the oil and gas sector, however, the economy has diversified with growth of the retail, service, and light manufacturing sectors. The increase in retail and service employment has held...

Companies mentioned in this report are: Lafayette
Action: Upgraded

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.

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Lafayette

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