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:
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.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included. SHOW LESS READ MORE >