Wilmington, Delaware; General Obligation Nov 11
Standard & Poors, November 2011
Abstract
Standard & Poor's Ratings Services assigned its 'AA-' long-term rating and stable outlook to Wilmington, Del.'s series 2011A, taxable 2011B, and taxable 2011C (direct-pay clean renewable energy conservation bonds) general obligation (GO) bonds and affirmed its 'AA-' long-term rating and underlying rating (SPUR), with a stable outlook, on the city's existing GO debt. The rating reflects our opinion of the city's: Diversification and gradual redevelopment of the local economy, anchored by chemical manufacturing and financial and banking services; Continuing property tax base expansion with a somewhat concentrated wage tax base; Adequate wealth and income and unemployment that has historically been above state and national rates; Stabilizing finances that will remain challenged in the near future due to the economic downturn;...
Companies mentioned in this report are:
- Wilmington
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
- Wilmington
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