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'AA-' Rating Assigned To Hopkinsville, KY's GO Bonds On Very Strong Reserve Levels, Stable Local Economy Nov 11
Standard & Poors, Nov 2011
Abstract
CHICAGO (Standard & Poor's) Nov. 8, 2011-- Standard & Poor's Ratings Services assigned it's 'AA-' long-term rating to Hopkinsville, Kentucky's series 2011A general obligation (GO) refunding bonds. The outlook is stable. 'The rating reflects our view of the city's stable local economy and maintenance of very strong reserves,' said Standard & Poor's credit analyst Helen Samuelson. 'Further supporting the rating are the city's moderate debt levels and rapid debt amortization,' Ms. Samuelson added. The city indicates it will use bond proceeds to refinance its outstanding variable-rate debt to fixed rate to avoid potentially rising future interest rates. The city also plans to issue $7 million of debt in December 2011 to fund a city hall project. RELATED CRITERIA AND RESEARCH...
Companies mentioned in this report are: Hopkinsville
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 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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