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Beaufort County, South Carolina; General Obligation Oct 06
Standard & Poors, Oct 2006
Abstract
Standard & Poor's Ratings Service raised its rating on Beaufort County S.C.'s GO debt to 'AA' and 'AA' underlying rating (SPUR) from 'AA-', reflecting the county's consistently strong economic growth and stabilized financial position. At the same time, Standard & Poor's assigned its 'AA' rating to the county's GO bonds, series 2006. The 'AA' rating is based on the county's: Stable underlying local economy supported by tourism and military components; Sizable tax base, with very high per capita market values; Above-average wealth and income levels; and Solid financial position, evidenced by healthy reserves. Offsetting factors include the county's moderately high debt burden, with additional debt expected to fund various expansion and renovation projects. The series 2006 bonds are secured by...
Companies mentioned in this report are: Beaufort Cnty
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.
Research Type: Full Analysis
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