• SELECT SITE CURRENCY
Select a currency for use throughout the site
Summary: Fredericksburg, Virginia; General Obligation Nov 11
Standard & Poors, November 2011
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: 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.
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.