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

  • ID: 1953299
  • January 2000
  • Standard & Poors
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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

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Research type: News
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