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Summary: Monaca Borough, Pennsylvania; General Obligation Nov 11

  • ID: 2027497
  • November 2011
  • Region: Pennsylvania
  • Standard & Poors
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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

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 READ MORE >

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- Monaca Boro

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