Henderson, Nevada; Tax Secured, General Obligation Nov 04
- ID: 2031370
- November 2004
- Region: Nevada
- Standard & Poors
The raised rating to 'AA' from 'AA-' on Henderson, Nev.'s GO bonds and the assigned 'AA' rating on Henderson's series 2004B GO sewer refunding bonds reflect the solidification of the city's status as a wealthy Las Vegas suburb, now the second-largest city in Nevada. Additional rating factors contributing to the raised GO rating include: The city's rapid residential expansion and surging tax base; Wealth and income levels that are among the highest in Nevada; Strong financial reserves, supported by longstanding management and policies; and A low overlapping debt and tax burden. The bonds are secured by the city's pledge of ad valorem taxes, subject to Nevada's statutory limitation on overlapping taxes of $3.64/$100 of assessed value. The series 2004B bonds...
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Action: New Rating
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