Standard & Poor's Ratings Services has assigned its 'A' long-term rating to Monaca Borough, Pa.'s series 2011 general obligation (GO) bonds. The outlook is stable. The rating reflects our opinion of the borough's: Stable, residential tax base; Very strong financial position, albeit on a modified cash basis of accounting, and proactive management of expenditures; and Moderate overall net debt burden with limited additional financing needs. These strengths are somewhat mitigated, in our opinion, by the borough's industrial employment base, contributing to adequate income levels and low market value per capita. The borough's full faith, credit, and taxing power secures the GO bonds. Officials plan on using a portion of proceeds to currently refund all of the borough's series 2003 bonds...
Companies mentioned in this report are:
- Monaca Boro
Action: New Rating
Action: Outlook: Stable
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