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Bellevue, KY's General Obligation Debt Rated 'AA-' Nov 11
Standard & Poors, Nov 2011
Abstract
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...
Companies mentioned in this report are: Bellevue
Action: New Rating
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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