Summary: Fredericksburg, Virginia; General Obligation Nov 11

Standard & Poors, November 2011

Abstract
Standard & Poor's Ratings Services assigned its 'AA' rating and stable outlook to Fredericksburg, Va.'s series 2011A general obligation (GO) bonds and affirmed its 'AA' rating, with a stable outlook, on the city's existing GO debt. The rating reflects our view of the city's: Mature, stable local economy along Interstate 95, anchored by the tourism and retail sectors; Large and very diverse property tax base; Adequate-to-good wealth and income and unemployment that has historically been just slightly above the commonwealth's rate but just slightly below the nation's rate; Historically stable finances, benefiting from, what we consider, very strong reserves and conservative management practices; and Moderate debt, coupled with manageable additional capital needs. The city's full-faith-and-credit GO pledge secures the bonds....

Companies mentioned in this report are: Fredericksburg
Action: Affirmed
Action: New Rating
Action: Outlook: Stable

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This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.

Fredericksburg

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