Outlook Revised To Negative On Cincinnati, OH GO Bonds Due To Revenue Losses, Imbalanced Budget Nov 12
- Language: English
- Published: November 2012
Standard & Poor's Ratings Services has assigned its 'AA' long-term rating to Cincinnati, Ohio's economic development revenue bonds, series 2011A (U-Square @ The Loop project). The outlook is stable. The rating reflects our opinion of the following credit strengths: The large and diverse economic base that underlies the city's ('AA+' GO rating) long-term financial strength and overall creditworthiness, and The pledge of nontax revenues. The city will use bond proceeds to fund the construction of two parking garages and a public park-like plaza area, streetscape improvements and infrastructure projects, the purchase of certain real property where the parking garages and plaza area will be located, and a debt service reserve (DSR). The series 2011A bonds are special obligations of the...
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Action: New Rating
Action: Outlook: Stable
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