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Waite Park, MN Bond Rating Raised To 'A+' On Strong Reserves And Good Financial Management Oct 08
Standard & Poors, October 2008
CHICAGO (Standard & Poor's) Oct. 24, 2008--Standard & Poor's Ratings Services raised its standard long-term and underlying rating (SPUR) on Waite Park, Minn.'s general obligation (GO) debt to 'A+' from 'A-'. In addition, Standard & Poor's assigned its 'A+' standard long-term rating to the city's series 2008A GO improvement bonds. Standard & Poor's based its upgrade on the city's maintenance of very strong reserves, coupled with good financial management practices. In our opinion, the 'A+' rating further reflects the city's participation in the growing regional St. Cloud economy; a diverse revenue base that allows the city to capitalize on its position as a regional retail center; a solid financial position with a high general fund balance, and a quick debt...
Companies mentioned in this report are: Waite Park
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 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.