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Summary: Oklahoma City, Oklahoma; General Obligation Apr 09 Product Image

Summary: Oklahoma City, Oklahoma; General Obligation Apr 09

  • ID: 2033776
  • April 2009
  • Region: Oklahoma
  • Standard & Poors

Abstract
The long-term rating and Standard & Poor's underlying rating (SPUR) on Oklahoma City, Okla.'s general obligation (GO) debt have been raised to 'AAA' from 'AA+', reflecting the resiliency of the local economy and consistently strong financial results. The city's GO bonds series 2009 have been rated 'AAA'. The ratings also reflect the city's: Diverse, expanding regional economic base that serves as the state's economic engine; Ongoing redevelopment in the downtown area; Consistently strong financial performance and position, coupled with conservative financial management practices; and Low debt levels, with rapid amortization of existing and proposed debt, and an affordable multiyear capital improvement plan (CIP). The city's limited revenue-raising flexibility has, in the past, been a concern, but consistently high reserves, coupled...

Companies mentioned in this report are:
- Oklahoma City

Action: New Rating
Action: Outlook: Stable
Action: Upgraded

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