Summary: St. Clair County Public Building Commission, Illinois St. Clair County; General Obligation; General Obligation Equivalent Security Dec 11

Standard & Poors, December 2011

Abstract
Standard & Poor's Ratings Services assigned its 'AA' rating and stable outlook to St. Clair County Public Building Commission, Ill.'s series 2011A, B, and C revenue refunding bonds, issued for St. Clair County. We also affirmed our 'AA' rating and underlying rating (SPUR) on St. Clair County Public Building Commission's revenue bonds and St. Clair County's general obligation (GO) bonds. The rating reflects our view of the county's: Participation in the diverse St. Louis, Mo. metropolitan area economy; Positive financial operations with very strong general fund reserves; and Moderate debt burden. The county's average wealth and income levels and above-average unemployment rate mitigate the above credit factors. Deficit operations at the MidAmerica Airport, which require annual transfers from the general...

Companies mentioned in this report are:
- St Clair Cnty
- St Clair Cnty Pub Bldg Comm

Action: Affirmed
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.

This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.

- St Clair Cnty
- St Clair Cnty Pub Bldg Comm

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