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Summary: Peoria, IL; General Obligation, Local GO Oct 98

  • ID: 2029984
  • October 1998
  • Standard & Poors

The rating on Peoria, Ill.'s bonds reflects: * Significant diversification of the economy and tax base, * Good tax base growth, and * Strong financial performance. Peoria, located halfway between Chicago and St. Louis, has a population of 119,000. The area's leading employer is Caterpillar Inc. Accounting for 1.6% of the city's tax base, Caterpillar is the world's largest producer of earth-moving equipment and largest area employer (16,795). Other leading employers include three hospitals employing 7,500 in aggregate, Bradley University with 1,200 employees, and a riverboat casino (1,050). The extension of sewer lines by the sanitary district has resulted in the city's annexations of subdivisions and a mall. The tax base has increased at an annual average rate of 8.8%...

Companies mentioned in this report are:
- Peoria

Action: New Rating

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