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Summary: Independence, Kansas; General Obligation Jan 12

  • ID: 2038949
  • January 2012
  • Region: Kansas
  • Standard & Poors
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Abstract
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:
- Independence

Action: Affirmed
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, READ MORE >

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- Independence

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