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Henderson, Nevada; Tax Secured, General Obligation Nov 04 Product Image

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...

Companies mentioned in this report are:
- Henderson

Action: New Rating

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Research Type: Full Analysis

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