Summary: Montgomery County Unified School District No. 446 (Independence), Kansas; General Obligation Dec 12
- Language: English
- Published: December 2012
- Region: Kansas
Standard & Poor's Ratings Services revised its outlook to negative and affirmed its 'A' long-term rating on Independence, Kan.'s existing general obligation (GO) debt due to the city's capital pressures and decreasing reserves. At the same time, Standard & Poor's assigned its 'A' long-term rating to the city's series 2012-A general obligation (GO) refunding and improvement bonds. The outlook is negative. In our opinion, the rating and revised outlook reflect the city's: Low wealth levels; and Moderately high overall debt levels combined with additional debt plans. The rating is strengthened by our view of the city's: Stable local economy; Adequate income levels; and Good level of cash reserves, despite significant declines that were partly due to increased capital requirements and...
Companies mentioned in this report are:
Action: New Rating
Action: Outlook: Negative
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. SHOW LESS READ MORE >