Bellevue, KY's General Obligation Debt Rated 'AA-' Nov 11
- ID: 2026255
- November 2011
- Standard & Poors
CHICAGO (Standard & Poor's) Nov. 9, 2011--Standard & Poor's Ratings Services has assigned its 'AA-' rating to Bellevue, Ky.'s series 2011 general obligation (GO) refunding bonds. The outlook is stable. The rating reflects our opinion of the city's: Stable local economy tied to the Cincinnati, Ohio economic base, Strong market value per capita, Maintenance of reserves we consider very strong, on a modified accrual basis; and Limited future capital needs. Offsetting these strengths, in our view, is the city's high debt burden. "The city's financial operations remain sound, and general fund reserve levels have remained strong on a modified accrual basis," said Standard & Poor's credit analyst Helen Samuelson. Securing debt service is the city's unlimited-tax GO pledge. We understand...
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