Research Update: Deluxe Corp.'s $200 Million Senior Unsecured Notes Rated 'BB-' (Recovery Rating: 4) Nov 12
- Language: English
- Published: November 2012
Standard & Poor's Ratings Services raised its rating on Shoreview, Minn.'s general obligation (GO) debt one notch to 'AAA' from 'AA+' based on its view of the city's stable financial operations, continual positive results that have led to very strong reserves, and a "strong" Financial Management Assessment (FMA). The outlook is stable. At the same time, Standard & Poor's assigned its 'AAA' rating, and stable outlook, to the city's series 2010B taxable GO bonds and its 'AA+' rating, and stable outlook, to the city's series 2010C refunding certificates of participation (COPs). We rate the COPs one notch below the city's GO debt rating due to the annual appropriation risk associated with the security. The 'AAA' rating reflects our assessment of...
Companies mentioned in this report are:
Action: New Rating
Action: Outlook: Stable
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