Perham, MN's 2009C Gas Utility Bonds Upgraded To 'A' On Good Debt Service Coverage; Outlook Stable Feb 13
- Language: English
- Published: February 2013
Standard & Poor's Ratings Services assigned its 'A+' long-term rating to Waite Park, Minn.'s series 2010C general obligation (GO) improvement refunding bonds. At the same time, Standard & Poor's affirmed its 'A+' long-term rating and underlying rating (SPUR) on the city's previously issued debt. The rating reflects our view of the city's: Participation in the St. Cloud regional area economy; Diverse revenue base that allows the city to capitalize on its position as a regional retail center; Maintenance of very strong reserves, coupled with good financial management practices; and Moderate overall debt burden, in terms of percent of market value, and rapid amortization, with 93% of the city's direct debt maturing in 10 years. Offsetting credit characteristics include, in our...
Companies mentioned in this report are:
- Waite Park
Action: New Rating
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